Gold prices recover as US real yields, which inversely correlate with bullion, fall three basis points to 2.05%.
The US Dollar Index (DXY), which tracks the buck's performance against a basket of six currencies, is flat at 106.17.
Market players continued to digest Donald Trump’s victory in the US Presidential Election on fears that tariffs and lower taxes are potential drivers of inflation and might slow the Fed’s easing cycle.
US Treasury bond yields were also pressured ahead of the weekend, with the 10-year benchmark rate down two basis points to 4.39%.
US Building Permits in October improved compared to September but dropped -0.6%, from 1.425 million to 1.416 million.
Housing Starts for the same period tumbled for the third consecutive month, contracted by 3.1%, from 1.353 million to 1.311 million.
According to data from the Chicago Board of Trade via the December fed funds futures contract, investors are pricing in 24 basis points of Federal Reserve rate cuts by the end of 2024.
On Monday, US President Joe Biden authorized Ukraine's use of long-range missiles inside Russia, CNN revealed. The decision comes as a reaction to thousands of North Korean troops being deployed in support of Moscow’s war effort.
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