Gold Near One-Month Low - Aniristorante

WASHINGTON (dpa-AFX) – Gold was trading near a one-month low on Tuesday, as the measure came ahead of headline U.S. inflation data, reports on retail sales and industrial production and comments from Federal Reserve officials to be released this week.

Spot gold fell nearly 1 percent in European trading to $2,594.77 an ounce, after falling more than 2 percent on Monday. This decline was weighed down by the dollar’s continued rise amid expectations that US interest rates will remain high for longer. US gold futures fell 0.8 percent to $2,597.90.

As the rhetoric shifted from hedging to an ‘America First’ stance during Trump’s presidency, the US dollar has hovered near a four-month high, making bullion expensive for most buyers.

Investors are now seeking clarity on US President-elect Donald Trump’s policy proposals regarding global geopolitics, US-China relations, NATO, immigration and economic policies.

Multiple media outlets have reported that Trump will likely appoint two people with a history of being harsh critics of China to key positions in his new administration.

Trump was said to have appointed pro-India Congressman Michael Waltz as National Security Advisor and foreign policy hardliner Marco Rubio as Secretary of State to prioritize US-India relations and counter China’s aggression in the Indo-Pacific region.

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