Gold prices fall in thin holiday-season trade, pressured by a stronger U.S. dollar and higher Treasury yields amid uncertainties over next year’s interest-rate outlook.
Futures are down 0.7% to $2,627.40 a troy ounce, while the dollar index is up 0.5% against a basket of other currencies.
The market is still digesting the Federal Reserve’s meeting last week and signals of fewer rate cuts next year. Meanwhile, the latest U.S. data showed Monday that consumer confidence–a key barometer of spending–dropped unexpectedly this month.
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