Mumbai, 20 Feb (Commoditiescontrol): Gold prices eased in early Asian hours on Tuesday, pressured by a slightly stronger dollar and elevated treasury yields, while traders also awaited for further cues from the minutes of the U.S. Federal Reserve's last meeting.
Spot gold was down 0.1% at $2,015.59 per ounce, with trading volumes likely thinned by a U.S. holiday. U.S. gold futures edged 0.2% higher to $2,026.90 per ounce.
The dollar index was up 0.1% and yields on benchmark 10-year Treasury notes were up near 4% levels, making greenback-priced bullion less affordable to overseas buyers.
All eyes will be on the minutes from the Fed's January policy meeting, due on Wednesday, for more clues on its interest rate cut timing.
Despite "remarkable" progress on U.S. inflation, Federal Reserve Bank of San Francisco President Mary Daly said "there is more work to do" to ensure stable prices.
Meanwhile, another Fed official cautioned against delaying rate cuts for too long.
Federal Reserve Bank of Atlanta President Raphael Bostic said that while he needs more data to convince him inflation pressures are truly falling, he's open to a summer time rate cut.
Traders have pushed back their expectations of a U.S. interest rate cut from March to June. Markets are currently pricing in a 74% chance of a cut in June, according to the CME Fed Watch Tool.
Anglo American Platinum (Amplats) plans to cut 17% of the Anglo American unit's workforce, as it battles to keep a lid on costs after a slump in the price of platinum group metals (PGMs).
Spot platinum fell 0.4% at $894.96 per ounce, palladium was down 0.7% at $946.90, while silver also was down 0.3% at $22.94 per ounce.
(By Commoditiescontrol Bureau: 09820130172)
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