• Gold price trades with a negative bias for the sixth straight day amid smaller Fed rate cut bets.
• Hopes of a possible Hezbollah-Israel ceasefire further undermine the safe-haven commodity.
• Traders now look to the FOMC minutes for short-term impetuses ahead of the US inflation figures.

Gold price (XAU/USD) fell nearly 1.5% intraday and touched a three-week low on Tuesday, albeit found some support ahead of the $2,600 round-figure mark. The US Dollar (USD) hovered near a seven-week high amid reduced bets for another oversized interest rate cut by the Federal Reserve (Fed), which turned out to be a key factor that undermined demand for the non-yielding bullion. Apart from this, news of a possible ceasefire between Lebanon's Hezbollah and Israel weighed heavily on the safe-haven precious metal and dragged it below a short-term trading range support near the $2,630 area. 

The downfall, however, stalled ahead of the $2,600 mark as traders opt to wait for the release of the minutes of the September FOMC policy meeting, due later this Wednesday. Apart from this, the US Consumer Price Index (CPI) and the US Producer Price Index (PPI) on Thursday and Friday, respectively, will be looked upon for fresh cues on the interest rate outlook. This, in turn, will play a key role in determining the next leg of a directional move for the Gold price. In the meantime, subdued US Dollar (USD) price action might hold back bears from placing fresh bets and limit losses for the XAU/USD.