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Fundamentals Spot gold was down 0.2% at $4,161.81 per ounce by 0015 GMT after hitting a one-week peak in the previous session. US gold futures for December delivery fell 0.1% at $4,186.60. The US dollar lingered near an 18-month high, making dollar-denominated metals more expensive for holders of other currencies. Markets are awaiting the Consumer Price Index (CPI) due on Wednesday and the Producer Price Index (PPI) report scheduled for release on Thursday. Cleveland Fed President Beth Hammack said the US central bank should move "relatively quickly" to a restrictive monetary policy stance in order to control inflation she feels has become more broad-based and is starting to influence firms' price-setting plans. The Fed is widely expected to keep rates on hold this month, but markets assign an 88% likelihood of a rate hike in December, according to CME's FedWatch tool. When interest rates are elevated, investors typically gravitate toward yield-bearing assets rather than gold. On the geopolitical front, Saudi Arabia said it was facing a new barrage of incoming fire and that Riyadh airport would remain shut for now, days after Saturday's deadly missile strike on a departure terminal that was claimed by Yemen's Iran-allied Houthis. Among other metals, spot silver eased 0.4% to $60.09, platinum was down 0.3% to $1,680.95 and palladium fell 0.7% to $1,135.70. Data/Events (Gmt) 0600 Germany HICP Final YY Sep 1400 US Existing Home Sales Sep (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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