Gold pauses near $4,170 as markets await PCE and jobs data

Gold traded largely flat near $4,170 an ounce in Asian electronic trade on Tuesday after plunging more than $150 in the previous session, as continued uncertainty over US-Iran negotiations kept oil prices elevated and reinforced expectations of further Federal Reserve tightening to contain inflation. The dollar index held above 101 near two-month highs, while Treasury yields remained elevated around 5%. Markets now await key US economic data, including Wednesday?s PCE inflation report and Friday?s nonfarm payrolls figures, for fresh clues on the Fed?s policy outlook. MCX December gold futures traded slightly lower at ₹1,48,560 per 10 grams.

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