The longerterm bullish trend for gold remains intact analyst
Mexico warns Trump tariffs would kill 400,000 US jobs
Markets see 64.7 chance of December rate cut

Nov 28 Reuters Gold prices edged lower on Thursday as the U.S. dollar strengthened, while investors assessed a flurry of economic data showing stubbornly strong U.S. inflation, suggesting the Federal Reserve might tread cautiously on further interest rate cuts.

Spot gold fell 0.1 to 2,633.31 per ounce, as of 0553 GMT.

U.S. gold futures shed 0.4 to 2,632.80.

The dollar index was up 0.1, reducing gold39;s appeal for holders of other currencies.

The market is focusing on the Fed39;s rate cuts, with the latest core Personal Consumption Expenditures PCE data suggesting slowing inflation, leading to expectations that the Fed39;s policy next year might be less dovish than previously expected, said Kelvin Wong, OANDA39;s senior market analyst for Asia Pacific.

Meanwhile, the Fed39;s struggle to bring inflation back to its 2 target, combined with the possibility of higher tariffs under the upcoming Trump administration may constrain the U.S. central bank39;s ability to implement rate cuts next year.

Markets now see a 68.2 chance of a quarterpoint rate cut in December, as per the CME group39;s FedWatch tool.

Elsewhere, Mexican President Claudia Sheinbaum warned of retaliation if Trump enforces a 25 tariff, citing potential U.S. job losses and higher consumer prices.

Gold is regarded as a safehaven investment…