02:00 PM EDT, 10/15/2024 (MT Newswires) -- (Updates prices.)

Gold prices traded higher midafternoon on Tuesday amid a steady dollar and mixed treasury yields.

Gold for December delivery was last seen up US$13.60 to US$2,679.20 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 was steady, with the ICE dollar index was last seen unchanged at 103.3.

Treasury yields were mixed, with the U.S. two-year note last seen up 0.3 basis points to 3.969%, while the 10-year note was paying 4.042%, down 6.3 basis points.