Gold prices fell in early trade on Tuesday, weighed down by a rebound in rising US Treasury yields and profit-taking after the safe-haven asset hit a six-week high.
At 9.10am, gold was at $4,216, up 0.26% since it opened early in Asian trading on Wednesday.
The 10-year US Treasury yield (US10Y) remained near a two-week high of around 4.11%, in line with falling Japanese and European government bond yields, weighing on interest in gold.
Although the Fed cut rates last month, Chairman Jerome Powell stressed that additional easing this year remains uncertain due to limited economic data.
The CME FedWatch tool shows traders are now pricing in an 87% probability of a Fed rate cut in December, a development that typically supports gold demand that has not yielded.
Market focus now turns to the November ADP jobs report on Wednesday and the September PCE data on Friday, for further clues on the direction of monetary policy ahead of next week's Fed meeting.
