FUNDAMENTALS
* Spot gold was listless at $1,633.69 per ounce, as of 0059 GMT, having earlier touched its lowest level since Oct. 21.
* U.S. gold futures fell 0.3% to $1,636.30.
* The dollar index was steady after rising 0.8% overnight, hurting gold's appeal for overseas buyers.
* U.S. central bankers are expected to keep their inflation fight in high gear this week, even as they intensify a debate over when to downshift to smaller interest rate hikes so as to avoid sending the world's biggest economy into a tailspin.
* The U.S. Fed is likely to raise rates by 75 basis points for a fourth straight time, bringing the target overnight lending rate to a 3.75%-4% range.
* Gold is highly sensitive to rising U.S. interest rates, as that increase the opportunity cost of holding the non-yielding metal.
* Euro zone inflation surged more than expected in October, data showed on Monday, fuelling expectations that the European Central Bank will press on with big interest rate hikes despite economic growth slowing.
* Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.22% to 920.57 tonnes on Monday from 922.59 tonnes on Friday.
* Spot silver rose 0.2% to $19.18 per ounce, platinum dipped 0.1% to $924.51 and palladium gained 0.9% to $1,856.91.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price