Ammon News - Gold edged down on Tuesday as investors, having mostly priced in a Federal Reserve rate cut, looked ahead for clues that the U.S. central bank might opt for a gentler-than-expected easing cycle when its two-day policy meeting begins later in the day.

Spot gold was down 0.3% to $4,174.91 per ounce, as of 0609 GMT. U.S. gold futures for December delivery slipped 0.4% to $4,202.70 per ounce.

Analysts widely expect a "hawkish cut" this week accompanied by guidance and forecasts that signal a high threshold for further easing into next year.

Markets now assign an 89% probability of a quarter-point cut at the Fed's December 9–10 meeting, according to CME's FedWatch Tool.

Meanwhile, silver fell 0.6% to $57.76 per ounce. The white metal hit a record high of $59.32 on Friday.

Platinum lost 0.2% to $1,638.35, while palladium shed 0.4% to $1,459.78. Reuters