Gold edges lower in the early Asian session amid lingering worries over China's Finance Ministry ending of a tax incentive for sales of the precious metal, effective Nov. 1. "The new rules may potentially dent wholesale gold demand for end-users," TD Securities' Daniel Ghali says in a research report. Also, "the new rules could have a meaningful impact on gold's ecosystem within China," the senior commodity strategist adds. Spot gold is 0.2% lower at $3,997.62/oz. Source: Dow Jones Newswires
Gold held steady amid disagreements among three Federal Reserve policymakers over the next interest rate cut next month, with the U.S. dollar trading near its highest level in months. The price of bullion held near $4,000 an ounce, after fluctuating between gains and losses on Monday. Fed Chair Lisa Cook said she sees the risk of further labor market weakness as greater than the risk of rising inflation, but refrained from committing to another interest rate cut in December. These comments echoed those of her colleagues, Mary Daly and Austan Goolsbee. Governor Stephen Miran, on the other...