US consumer confidence falls in April
US default on debt would trigger 39;economic catastrophe39; Yellen

April 25 Reuters Gold prices slipped on Tuesday as a stronger dollar countered support from lower Treasury yields, while investors awaited a slew of U.S. economic data due later this week that could sway the Federal Reserve39;s interest ratehike stance.

Spot gold ticked 0.1 lower to 1,986.04 per ounce by 955 a.m. EDT 1355 GMT, while U.S. gold futures fell 0.2 to 1,996.80.

The dollar rose 0.4, making bullion more expensive for buyers holding other currencies, while benchmark 10year Treasury yields fell.

The Fed would do its best to try and hold rates higher in order to quell inflation but that likely means that it might be a constraint on the economy growing as quickly, said Everett Millman, chief market analyst at Gainesville Coins.

No matter what decision they have to make, it39;s probably going to result in some type of stress, and that looming uncertainty is certainly what gold is going to be sensitive to.

The U.S. consumer confidence index fell to 101.3 in April, down from 104 last month and below market expectations for 104.

The core personal consumption expenditures PCE index, the Fed39;s favored inflation gauge, is due on Friday, while quarterly gross domestic product data is scheduled for Thursday.

Markets see an 84 chance of a 25basis point rate hike at the Fed39;s May 23 meeting.

While gold is considered a safe haven during economic…