Gold Holds Steady In Lackluster Trade

Gold Holds Steady In Lackluster Trade

Gold prices were largely unchanged on Tuesday despite the dollar trading flat against major currencies.

Spot gold was up 0.12 percent at $1,194.43 an ounce while U.S. gold futures were marginally lower at $1,199.40.

After last week's upbeat jobs report, investors are bracing for another increase in U.S. interest rates before the end of the month.

The prospects of another increase in December have also been rising, despite the low inflation outlook.

Higher rates increase bond yields, making the non-yielding bullion less attractive to investors.

Investors also keep a close eye on global trade developments, particularly the ongoing dispute between the world's two largest economies, after a public comment period ended last week on proposed additional tariffs.

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