BASICS
* spot gold rose 0.1% to $2,723.06 an ounce, at 00:20 GMT. US gold futures fell 0.1% to $2,737.1.
* Putting pressure on zero-yield bullion, the benchmark 10-year bond Treasury Returns rose to a 12-week high while the dollar rose to its highest level since August 2. [US/ USD/]
* Gold hit an all-time high of $2,740.37 on Monday and has gained about 32% so far this year, helped by global uncertainties and a looser monetary policy environment. Gold is a preferred investment during periods of lower rates and times of uncertainty.
* Israel carried out several attacks in Beirut’s southern suburbs on Monday, including one near the capital’s main government hospital. Elsewhere, the battle for the US presidency is intensifying, with about two weeks left until the election. * Federal Reserve Bank of Dallas President Lorie Logan said Monday that she sees more rate cuts ahead for the central bank and suggested she sees no reason why the Fed can’t move forward with cutting rates. its balance. * Traders are pricing in an 87% chance that the U.S. Federal Reserve rate cut in November, according to the CME Fedwatch tool.
* Citi investigation raised its three-month forecast for gold prices to $2,800 an ounce, citing possible further deterioration in the US labor market, interest rate cuts by the Federal Reserve and physical purchase and ETF.
* Spot silver rose 0.2% to $33.86 an ounce, after reaching its highest level since late 2012 at $34.28.
* Platinum rose 0.3% to $1,006.26 and palladium gained 0.4% to $1,055.75.
No major data or events are expected for Tuesday, October 22.
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