Gold steady as rising yields offset dollar weakness; PCE data in focus

Dec 4 (Reuters) – Gold prices were largely unchanged on Thursday, as rising U.S. Treasury yields offset support from a weaker dollar, while markets awaited Friday’s U.S. inflation data for clues on the Federal Reserve’s policy outlook ahead of its December meeting.
Spot gold was up 0.1% to $4,211.19 per ounce, as of 1611 GMT. U.S. gold futures for February delivery rose 0.3% at $4,243.70 per ounce.
Dec 4 (Reuters) – Gold prices were largely unchanged on Thursday, as rising U.S. Treasury yields offset support from a weaker dollar, while markets awaited Friday’s U.S. inflation data for clues on the Federal Reserve’s policy outlook ahead of its December meeting.\
Spot gold was up 0.1% to $4,211.19 per ounce, as of 1611 GMT. U.S. gold futures for February delivery rose 0.3% at $4,243.70 per ounce.

Exclusive: Congressional watchdog will investigate Trump official’s conduct

WASHINGTON, Dec 4 (Reuters) – The U.S. Congress’ watchdog said this week it will investigate whether Federal Housing Finance Agency Director Bill Pulte abused his position and government resources to accuse President Donald Trump’s perceived enemies of crimes, according to a letter from the agency reviewed by Reuters.
The probe by the Government Accountability Office, an independent investigative agency of the legislative branch, follows a November request by eight Democratic U.S. senators that the agency “promptly” investigate whether Pulte’s referrals of prominent Democrats and public officials to the Justice Department were motivated by partisan politics or constituted a misuse of government resources.
GAO accepts your request as work that is within the scope of its authority,” A. Nicole Clowers, a managing director at GAO, wrote in a letter to the legislators on Monday.
A GAO spokesperson in a statement Thursday morning confirmed the probe and said that no timeline for its investigation has yet been established. An FHFA spokesperson declined to comment. Steven Cheung, a White House spokesperson, in a statement defended the FHFA director, saying: “Bill Pulte is one of the President’s most loyal and important advisors who is doing a great job.”
As head of the FHFA, an agency that oversees elements of the mortgage market, Pulte has been an outspoken critic of people deemed enemies by the White House. He has accused prominent officials targeted by Trump, including New York Attorney General Letitia James and Federal Reserve Board Governor Lisa Cook, of mortgage fraud. Despite praise from Trump, Pulte’s accusations have recently faced pushback from courts and prosecutors.