Gold traded sideways on Tuesday, with investors bracing for the possibility of an early announcement on the next US Federal Reserve chair. Spot gold slipped 0.1 percent to $1,280.80 an ounce by 0700 GMT, after hitting its lowest since October 6 at $1,271.86 in the previous session.
US gold futures for December delivery rose 0.1 percent to $1,282.30 per ounce. "Nothing really spurring a big selloff for gold yet. We're waiting for currency direction... maybe people are anxious about an early announcement from Trump on the Fed chair," said a Hong Kong-based trader. Reuters technicals analyst Wang Tao, however, said spot gold may break a resistance at $1,283 per ounce and rise into a range of $1,289-$1,295.