Spot gold may retrace to 2,042 per ounce technicals
Dollar index
10Year Treasury yields rise above 4

Jan 16 Reuters Gold prices were subdued on Tuesday as the dollar and Treasury yields rose, while traders waited to hear from a slew of U.S. Federal Reserve speakers this week for more clarity on the central bank39;s rate cut prospects.

Spot gold was down 0.3 at 2,048.70 per ounce, as of 0758 GMT. U.S. gold futures rose 0.1 to 2,053.00.

The dollar has strengthened ahead of Christopher Waller39;s speech, which is arguably the bigger event for the week, said Matt Simpson, a senior analyst at City Index.

The dollar index touched a 10day high, making bullion less attractive for other currency holders, while yields on benchmark U.S. 10year Treasury notes rose above 4.

At least six Fed officials are due to speak this week, with Governor Christopher Waller scheduled to deliver a speech on the economic outlook before the Brookings Institution at 1600 GMT.

With multiple rate cuts having been priced in by market, I wouldn39;t be surprised if Waller feels inclined to push back…a move back to 2035 for spot gold could be plausible, Simpson said.

At the end of its Jan. 3031 meeting, the U.S. central bank is expected to hold its policy rate steady.

Traders are betting on six rate cuts of 25 basis points each this year, with about a seveninten chance that the first one could come as soon as March, according to LSEG39;s interest rate probability app, IRPR.

Lower interest…