Gold edged lower on Thursday, retreating from a near two-week high as investors booked profits amid uncertainty over a potential December US interest rate cut. Spot gold fell 0.3 per cent to $4,153.49 per ounce, while December US gold futures slipped 0.5 per cent to $4,150.0. Conflicting signals from the Federal Reserve on the timing and scale of rate cuts have driven hedging flows into derivatives linked to overnight rates. Some Fed officials, including New York Fed President John Williams and Governor Christopher Waller, support easing in December due to labor market weakness, while several regional presidents advocate pausing until inflation shows stronger progress toward the 2 per cent target. US rate futures currently price in an 85 per cent chance of a December cut. Low rates tend to support non-yielding gold. Data showed weekly jobless claims fell, but consumer confidence weakened in November amid concerns over jobs and household finances. Other metals saw mixed movements: spot silver fell 0.6 per cent to $53.04 per ounce, platinum rose 2.3 per cent to $1,624.75, and palladium declined 0.3 per cent to $1,419.0. Attribution: Reuters
