Gold futures slipped lower Tuesday, headed for a fourth straight session decline, as strength in the U.S. dollar and fresh highs for U.S. stock benchmarks recently reflected waning demand for haven gold.<\/p>\n
The charts for gold \u201cremain negative and the overall macroeconomic environment doesn\u2019t have the feel of enough anxiety to reverse that bias,\u201d analysts at Zaner Metals wrote in a daily report. \u201cHowever, the market does appear to have found some support around the $1,450 level and Chinese auto sales for October were soft enough to foster some economic uncertainty.\u201d <\/p>\n
December gold
December silver
Investors awaited a speech from President Donald Trump for hints on trade developments.<\/p>\n \u201cGold appears to be in a holding pattern while also barely hanging on a thread ahead of President Trump\u2019s speech at the Economic Club of NY,\u201d wrote Edward Moya, senior market analyst at brokerage Oanda. Trump\u2019s ECNY speech is scheduled for noon Eastern Time and could provide a spark for precious metals and other assets if the president says something about the long-running U.S.-China trade scuffle. <\/p>\n \u201cWith gold hovering around key support, a Trump Christmas surprise could deliver a blow to all safe-havens. If Trump chooses to announce any major trade breakthroughs, we could see US stocks reinvigorated and safe-havens punished across the board,\u201d Moya wrote. <\/p>\n Meanwhile, stocks have been somewhat buoyant with the Dow Jones Industrial Average
January platinum
\u201cPlatinum prices dropped some, as China lost car sales of electric and hybrid vehicles,\u201d said George Gero, managing director at RBC Wealth Management. <\/p>\n Palladium, meanwhile, saw prices edge higher, as the metal had \u201calready had big sellers recently and some shorts [were] covering now,\u201d said Gero. <\/p>\n December palladium
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\n GCZ19, -0.34%<\/span><\/a><\/span>
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\n \u00a0on Comex fell $5.50, or 0.4%, to $1,451.60 an ounce after shedding 0.4% on Monday, hitting its lowest settlement since Aug. 1 according to Dow Jones Market Data. <\/p>\n
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\n SIZ19, -0.52%<\/span><\/a><\/span>,
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\n meanwhile, shed 12.7 cents, or 0.8%, to $16.675 an ounce,with prices for the metal also on track for a fourth consecutive session decline.<\/p>\n
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\n DJIA, +0.27%<\/span><\/a><\/span>
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\n notching its ninth all-time high of 2019, while the U.S. dollar, as measured by the ICE U.S. Dollar Index
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\n DXY, +0.16%<\/span><\/a><\/span>,
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\n edged up 0.2%. Stocks gains and a stronger dollar can undercut appetite for assets considered havens like bullion. <\/p>\n
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\n PLF20, -0.89%<\/span><\/a><\/span>
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\n \u00a0was down 1.2% at $870.10 an ounce, headed for the lowest most-active contract settlement since August.<\/p>\n
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\n PAZ19, +0.66%<\/span><\/a><\/span>
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\n \u00a0added 0.5% to $1,664.10 an ounce, after losing more than 3% in each of the last two trading sessions.<\/p>\n