Gold futures were slightly higher Tuesday, even as strong U.S. housing data raised speculation the Federal Reserve will hike interest rates in December.
Housing starts in the U.S. rose more than expected in the month of September, according to a report released by the Commerce Department on Tuesday. The report said housing starts climbed 6.5 percent to an annual rate of 1.206 million in September.
Elsewhere, the Bank of England should consider to begin interest rate hikes now if it wants to proceed with the tightening cycle only gradually to reduce the impact on households and businesses, policymaker Ian McCafferty said on Tuesday.
Dec. gold climbed $4.70, or 0.4%, to settle at $1,177.50/oz on Comex.
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