PRECIOUS-Gold edges lower as traders gauge fragile US-Iran truce; Fed outlook in focus

[출처/시간] Reuters - 12:27 AM ET

* Iran says US violated ceasefire agreement

* US Secretary of State says Iran ?deal could take a few days

* US PCE data due ?on Thursday (Updates prices as of 0412 GMT)

By Pablo ?Sinha

May 27 (Reuters) - Gold prices edged lower on Wednesday as investors assessed ongoing tensions between the U.S. and Iran, and awaited comments from Federal Reserve officials for monetary policy clues.

Spot gold was down 0.1% at $4,502.25 per ounce, as of 0412 GMT. U.S. gold futures for June delivery were steady at $4,501.10.

"It looks like the overall trend is down, but we're getting these long periods of consolidation, and I think that's sort of what we're looking at here today," said Ilya Spivak, head of global macro at Tastylive.

"The ?market is increasingly focused on whether we are in fact going to get ?some ?kind of a breakthrough in this (U.S.-Iran) story."

Iran said on Tuesday the U.S. ?had violated a ceasefire by striking targets near the contested Strait of Hormuz, potentially complicating efforts to bring the war to a close.

U.S. Secretary of State Marco Rubio ?said it could take "a few days" ?to negotiate a deal to halt the conflict, after ?both sides had previously indicated progress on an initial agreement that would end ?hostilities and restart shipping through the Strait.

Investors are awaiting comments from Fed policymakers, including ?Vice Chair ?Philip Jefferson and Governor Lisa Cook, to gauge ?the impact of inflation on future monetary policy stance.

The April U.S. ?Personal Consumption Expenditures (PCE) data, due on Thursday, is also in focus for more clues on U.S. monetary policy.

Inflation risks and bond moves have been so significant that attention ?has shifted from what ?gold is paying, Spivak said, adding that ?bullion could "reach as low as maybe $3,700 to $3,800 by year-end if the trend continues."

Spot silver ?fell 0.3% to $76.71 per ounce, platinum slid 0.8% to $1,942.15, and palladium was down 0.2% at $1,376.92.

(Reporting by Pablo Sinha in Bengaluru; ?Editing by Rashmi Aich, Subhranshu ?Sahu and Sherry Jacob-Phillips)