Gold prices nudged lower Tuesday, extending recent losses on renewed speculation the Federal Reserve will soon raise interest rates.
Incoming economic data suggests the U.S. economy may be sputtering, but Fed officials have been hinting for months that they intend to raise rates in December.
Last week’s Fed statement said that policy makers are considering a rate hike at the early December meeting.
US gold for December was down $5 at $1131 an ounce, having settled at a monthly low in the previous session.
Silver was down 0.65 percent at $15.31 an ounce.
The Commerce Department is due to release its factory orders report for September at 10 am ET. Economists expect a 0.9 percent month-over-month drop in factory orders.
The material has been provided by InstaForex Company – www.instaforex.com