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FUNDAMENTALS
* Spot gold gained 0.2% to $1,974.29 per ounce by 0104 GMT, having declined in the previous two sessions and trading below five-month highs hit last week. U.S. gold futures
were steady at $1,985.40.
* Investors are keeping a close watch on the war in the Middle East as world leaders pushed for either a pause or ceasefire in fighting between Israel and Hamas in the Gaza Strip so that humanitarian aid could be delivered to besieged Palestinian civilians.
* The benchmark U.S. 10-year Treasury yields inched lower as investors bought into a recent sell-off amid concerns about the economic impact of higher borrowing costs.
* U.S. business activity ticked higher in October while output in the euro zone took a surprise turn for the worse, surveys showed on Tuesday, underscoring the diverging path for central bankers in the two regions and fanning fears the bloc may slip into recession.
* Investors are now eagerly awaiting the release of the U.S. GDP numbers for the third quarter on Thursday and the U.S. PCE price index on Friday.
* South Africa’s Anglo American Platinum on Tuesday said its refined platinum group metal (PGM) output declined 9% during the third quarter, due to disrupted water supplies to its processing facilities and lower concentrate production.
* Spot silver rose 0.3% to $23 an ounce, platinum added 0.2% to $886.08 and palladium advanced 0.7% to $1,127.52.
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