Gold subdued ahead of US inflation data, Warsh remarks - Livemint

AI desk brief

Gold edged 0.3% lower to $4,157.90/oz and December futures settled at $4,177.30/oz as traders waited for Wednesday CPI, Thursday PPI and Fed Chair Warsh’s remarks for clues on the next policy move. The dollar and 10-year Treasury yields slipped from recent highs but stayed elevated, keeping the near-term tone cautious; CME FedWatch shows 19% odds of a hike this month and 88% for December.

The macro backdrop remains mixed for bullion: higher rates still raise the opportunity cost of holding gold, but Commerzbank flagged that rising borrowing costs also worsen debt-sustainability concerns. Silver underperformed, down 1.8% to $59.25/oz, while platinum fell 1.4% to $1,661.18/oz and palladium dropped 1.5% to $1,126.95/oz.