Gold has been floating low for almost a month

WASHINGTON (dpa-AFX) – Gold hovered near a one-month low on Tuesday as caution emerged ahead of key US inflation data, reports on retail sales and industrial production, and commentary from Federal Reserve officials appear every week.

Spot gold fell about 1 percent to $2,594.77 an ounce in European trading after falling more than 2 percent on Monday, pressured by the dollar’s continued rise amid expectations that U.S. yields will stay higher for longer to stay. U.S. gold futures fell 0.8 percent to $2,597.90.

The US dollar remained near a four-month high, making the precious metal expensive for most buyers as the narrative shifted from risk hedging to an ‘America First’ attitude under the Trump presidency.

Traders are now seeking clarity on newly-elected US President Donald Trump’s policy proposals on global geopolitics, US-China relations, NATO, immigration and economic policy.

Multiple media outlets reported that Trump is likely to appoint two men with track records of sharply criticizing China to key positions in his new administration.

It was said that Trump will appoint pro-India Congressman Michael Waltz as his National Security Advisor and foreign policy hardliner Marco Rubio as Secretary of State to prioritize US-India relations and to counter Chinese aggression in the Indo-Pacific region.

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