Gold prices fell in limited trading on Tuesday, as investors awaited more US economic data this week, which may shed light on the monetary policy expectations of the Federal Reserve (the US central bank).
By 0535 GMT, gold in spot transactions fell 0.1 percent to $2,024.49 per ounce. US gold futures also fell 0.1 percent to $2,038.
Things slow down at the end of the year, but the one thing to take into consideration will still be the outlook for Federal Reserve policy, said Ilya Spivak, head of global macroeconomics at Tasty Live.
He added that expectations are very high at this stage for interest rates to be cut next year.
Federal Reserve Chairman Jerome Powell said last week that historic tightening of monetary policy is likely to end as inflation declines faster than expected and discussions about lowering borrowing costs emerge.
Investors are awaiting a slew of US economic data this week, including the November Personal Consumption Expenditures (PCE) report due on Friday, the central bank's preferred measure of core inflation.
As for other precious metals, silver rose in spot transactions 0.3 percent to $23.84 per ounce, while platinum fell 0.2 percent to $943.39 and palladium settled at $1,181.98.
