Gold futures settled lower on Tuesday, pressured by a climb in U.S. equities and some strength in the dollar, as traders looked to the latest U.S. economic data for clues on the Federal Reserve’s decision on interest rates later this week.December gold GCZ5, +0.14% fell $5.10, or 0.5%, to settle at $1,102.60 an ounce on Comex, giving back all of Monday’s gain and then some.
A big question for traders is “does the Fed view the current labor and inflation dynamic as having met their conditions for a hike in rate?” said Erik Gebhard, co-founder of Altavest Worldwide Trading.
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