June 23 (Reuters) - Gold prices were steady on Tuesday as
investors assessed U.S.-Iran peace talks, while rising
expectations of a Federal Reserve interest rate hike in December
weighed on the metal.
FUNDAMENTALS
* Spot gold was steady at $4,191.09 per ounce, as of
0053 GMT. U.S. gold futures for August delivery rose
0.2% to $4,208.40.
* The United States waived sanctions on Iran for 60 days
from Monday after the first talks under a nascent peace deal,
while officials reported a sustained lull in fighting in Lebanon
under the agreement aimed at ending hostilities across the
region.
* U.S. Vice President JD Vance said talks with Iranian
officials in Switzerland had laid a good foundation for a final
peace deal, although Iran denied that it had begun discussions
of its nuclear programme.
* Fed Chairman Kevin Warsh will deliver his first testimony
on monetary policy before Congress on July 14, according to a
hearing notice published by the House Financial Services
Committee.
* Chicago Fed President Austan Goolsbee said that with the
labour market stable, he is focused on figuring out whether
too-high inflation will stay that way or if it will recede as
the effect of high tariffs fades and if the conflict in the
Middle East gets resolved.
* Traders now see an 89% chance of an interest rate hike in
December, up from 61% before the Fed meeting last week,
according to the CME FedWatch Tool.
* Gold speculators raised net long positions by 9,258
contracts to 112,918 in the week to June 16.
* Spot silver fell 0.4% to $64.92 per ounce, platinum
lost 0.4% to $1,672.90, while palladium was up
0.1% at $1,266.35.
DATA/EVENTS (GMT)
0730 Germany S&P MFG, Services, Composite Flash PMI
Jun
0800 EU S&P Mfg, Services, Composite Flash PMI Jun
0830 UK Flash Composite, Manufacturing, Services PMI
Jun
1345 US S&P Global Mfg, Svcs, Comp PMI Flash Jun
(Reporting by Pablo Sinha in Bengaluru; Editing by Subhranshu
Sahu)
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