Gold slides as dollar surges on Fed rate hike view

Trafigura Group says the age of persistently low oil prices is nearing its end

But even with uncertainty about the possible reasons for the low rate of inflation - from misjudging the strength of the labor market to the impact of foreign competition on the global supply chain - Yellen said the Fed "should be wary of moving too gradually".

The yen fell 0.6 percent to 112.92 per dollar, close to an 11-week low, and sterling lost 0.3 percent to $1.3420 against the resurgent greenback, picking up from as low as $1.3363.

S&P 500 e-minis were down 2.5 points, or 0.1 percent, with 127,187 contracts traded. The labor market could become overheated, causing an inflation problem down the road. The committee also lowered expectations for inflation.

Her remarks "boosted hopes for an additional Fed rate hike within the year", an official at a currency margin trading service provider said.

Markets are pricing in a more than an 80 percent chance the Fed will raise borrowing costs in December, according to the CME Group's FedWatch tool, up from 72 percent a week ago. Case-Shiller's national index rose 5.9%, up from 5.8%. A balance of 23% expect sales volume to increase next month.

A report released by the National Association of Realtors on Wednesday showed a steep drop in pending home sales in the USA in the month of August.

The S&P 500 index closed up 0.01% Tuesday after briefly climbing above the 2,500 mark, earlier during the United States trading day. When this realization hits a larger percentage of investors, we should see a continuation of the dollar decline and major rally in gold and silver.

Manchester United At CSKA Moscow: Possible Starting Lineups
By David McdonnellUnited are without Paul Pogba , Michael Carrick and Marouane Fellaini for their CL test in Russian Federation . Juan Mata and Jesse Lingard also made the trip with Jose Mourinho .

Trump 'not happy' with health secretary's private travel
On a June trip to Nashville, Price also had lunch with his son, who lives in that city, according to Politico . Trump says "we'll see" about whether he was going to fire his Health and Human Services secretary.

Interpol approves Palestinian membership despite Israeli opposition
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Bullion prices ended lower at Comex on Tuesday, 26 September 2017.

The US Dollar clung to earlier gains late Tuesday after Federal Reserve chairperson Janet Yellen stuck broadly to the FOMC's recent script on interest rates, but highlighted risks around inflation forecasts that underpin both policymaker and market expectations for US rates going forward.

Shares of Apple, Amazon, Facebook and Microsoft were among the early gainers after falling sharply in the prior session in a move partly blamed partly on profit taking and partly on rising tensions with North Korea.

In "when-issue" activity, traders expected the two-year note issue to sell at a yield of 1.458 percent, which would be highest yield since October 2008. Prices on Monday surged 3.1%, with the $52.22 settlement the highest since mid-April.

OIL: Benchmark U.S. crude rose 24 cents to $52.12 per barrel on New York Mercantile Exchange.

The U.S. Energy Information Administration will release stocks data later on Wednesday. An increase for crude supplies would follow three-consecutive weekly increases reported by the EIA, as Hurricane Harvey disrupted US refinery operations, reducing demand for crude oil.

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