China Oct. Industrial Production +4.6% y/y (exp 4.4%) & Retail sales +7.6% y/y (exp 7.0%)China Oct. Industrial Production +4.6% y/y (exp 4.4%) & Retail sales +7.6% y/y (exp 7.0%) Secures 0 Million in New Secures $110 Million in New Funding

The most-actively traded gold futures contract Tuesday rose 1.1% to $1,971.70 a troy ounce, on pace for its largest daily percentage gain since Oct. 18, after data showed that price pressures eased in October.

Analysts said the new CPI report reinforces bets that the Federal Reserve’s interest rate hike in July was likely the last one of this cycle and that the central bank could hold rates steady at its December meeting.

That dragged down yields on the 10-year U.S. Treasury to 4.453% from 4.631% late Monday, increasing the comparative appeal of gold, which doesn’t pay any regular income.

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