US Biz
CHICAGO, Nov. 28 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar and Treasury yields fell.
The most active gold contract for February delivery rose 27.20 U.S. dollars, or 1.34 percent, to close at 2,060.20 dollars per ounce.
Federal Reserve Governor Christopher Waller said in a prepared speech in Washington, D.C., on Tuesday that he is "increasingly confident that policy is currently well positioned to slow the economy and get inflation back to 2 percent."
Waller added that he could see a point where the Fed might start lowering rates if inflation continues to ease over the next three to five months.
In opening remarks at the Midwest Agricultural Conference on Tuesday, Federal Reserve Bank of Chicago President Austan Goolsbee said that "overall" the U.S. central bank has "made good progress on inflation ... 2023 we're on path to set the highest drop in the inflation rate in 71 years."
Nevertheless, Federal Reserve Governor Michelle Bowman offered a contrasting view in her speech before a banking association in Salt Lake City, Utah, on Tuesday. She reiterated that more rate hikes likely will be needed as evolving dynamics keep inflation elevated.
The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 102 in November from 99.1 in October.
The S&P CoreLogic Case-Shiller National Home Price Index increased 0.7 percent in September from August on a seasonally adjusted basis, marking the eighth straight month of growth and an all-time high for the index. Home values were up 3.9 percent over the last 12 months, besting the 2.5-percent annual gain logged in August.
Investors are waiting for U.S. third-quarter gross domestic product (GDP) figures due out on Wednesday and the personal consumption expenditures (PCE) price index on Thursday.
Silver for March delivery rose 26.40 cents, or 1.05 percent, to close at 25.302 dollars per ounce. Platinum for January delivery rose 27.00 dollars, or 2.92 percent, to close at 950.20 dollars per ounce.