Gold was broadly steady after touching its highest level since mid-May on Monday
as investors awaited US inflation data and a speech by Federal Reserve Chair
Kevin Warsh later this week. Sucden Financial said that despite the US 10-year
Treasury yield remaining near 4.7%, renewed US fiscal concerns, uncertainty over
Treasury market credibility and a dollar index persistently below 99 are keeping
demand for gold firm; gold needs to hold above $4,700/oz to sustain stronger
gains.
