09:43 AM EDT, 10/15/2024 (MT Newswires) -- Gold prices were steady early on Tuesday even as the dollar and treasury yields moved lower.

Gold for December delivery was last seen down US$0.50 to US$2,665.10 per ounce.

The metal is failing to challenge its Sept.26 record high of US$2,694.90 per ounce despite expectations the Federal Reserve will continue to lower interest rates, cutting the carrying cost of owning gold, while safe-haven buying eases with Israel expected to limit its response to Iran's Oct.1 missile attack to military targets in the Persian Gulf country, according to a Washington Post report.

The dollar fell, with scant economic news to offer support. The ICE dollar index was last seen down 0.23 points to 103.06.

Treasury yields also eased, with the U.S. two-year note last seen down 2.9 basis points to 3.937%, while the 10-year note was paying 4.056%, down 4.9 basis points.