Gold futures tilted lower in American trade as the dollar index fell off January 23 highs for the fourth consecutive session, following earlier data from the US, the world's largest economy. 

As of 03:05 GMT, gold futures due on April 15 fell 0.05% to $1,325.70 an ounce from the opening of $1,326.40, while the dollar index slid 0.51% to 89.75 from the opening of 90.21. 

Earlier today, Federal Reserve Bank of Cleveland President Loretta Mester spoke about the economic outlook and monetary policy at the Dayton Area Chamber of Commerce Government Affairs Breakfast, while the NFIB Small Business Index rose to 106.9 from 104.9 in December, beating expectations of 106.2. 

The White House announced a new budget plan, which includes a 10-year $200 billion plan to improve US infrastructure and $710 billion for defense, $80 billion for tech, and $18 billion for the border wall. 

The White House also released its forecasts for GDP growth, putting it at 3% in 2018,compared to 2.4% before, and 3.2% for 2019, compared to 2.7% before, and finally 3.1% in 2020. 

Consumer prices are expected to rise 2.1% in 2018 and 2% in 2019 and 2.2% in 2020, while unemployment is projected to fall to 3.9% in 2018 and 3.7% in 2019 and 3.8% in 2020. 

Finally, the White House expects 10-year treasury bond yields to average 2.6% in 2018, and for the budget deficit to hit $873 billion this year, before reaching $984 billion in 2019.

Congress reached a last-minute temporary budget deal on Friday after a brief hours-long government shutdown, the second one this year, before both the Senate and House of Representatives passed the deal and President Donald Trump signed it into law. 

Markets await US inflation data later this week, specifically consumer and producer prices in addition to retail sales, industrial, housing, and consumer confidence data. 

As chances of a Fed rate hike next month increase, gold prices were pushed to month lows last week, as the dollar index also rose to two-week highs on surging US treasury bond yields, however the precious metal was propped up by heavy losses sustained by the stock market, which increased demand on gold as a safe haven. 

Gold holdings at the SPDR Gold Trust settled at 820.71 tonnes, the lowest since August 29, after rising 3% in 2017, or 23.63 tonnes. 

Palladium prices tilted higher in American trade away from October 25 lows as the dollar index fell off January 23 lows, amid a lack of data from the US, the world's largest economy. 

As of 02:39 GMT, palladium rose 0.07% to $985.83 an ounce from the opening of $985.15, while the dollar index dropped 0.50% to 89.75 from the opening of 90.21. 

Earlier today, Federal Reserve Bank of Cleveland President Loretta Mester spoke about the economic outlook and monetary policy at the Dayton Area Chamber of Commerce Government Affairs Breakfast, while the NFIB Small Business Index rose to 106.9 from 104.9 in December, beating expectations of 106.2. 

Markets await US inflation data later this week, specifically consumer and producer prices in addition to retail sales, industrial, housing, and consumer confidence data. 

Palladium, one of the rarest metals on earth - 30 times rarer than gold- continues to move away from record highs as dollar rebounds strongly from three-year lows, while noting that Russia and South Africa provide over 75% of global palladium supplies. 

Otherwise, Standard Chartered recently projected a supply deficit of 563 thousand ounces in the palladium market this year, compared to a deficit of 459 thousand in 2016, while expecting upbeat gains throughout the ongoing 12 months, which was reflected in palladium's surge to record highs. 

Oil prices deepened their losses in American trade on track for fresh two-month lows, after the International Energy Agency warned from global oversupply, with US output hitting record highs. 

As of 13:14 GMT, US West Texas Intermediate fell to $58.85 a barrel from the opening of $59.35, with an intraday high at $59.72, and a low at $58.82. 

Brent slipped to $62.35 a barrel from the opening of $62.78, after marking a 0.2% profit yesterday, and a December 7 low on Friday at $61.75. 

OPEC said in its latest monthly report that the oil market won't be balanced again before the end of the year due to increased output from the US and other producers, expecting global supplies to increase 1.4 million bpd this year, up from 870 thousand bpd in November forecasts. 

The IEA said on Tuesday that OPEC managed to achieve their targets in erasing global oversupply, however their efforts could be subverted due to increased supplies from the US and other producers. 

Oil prices lost 9.5% last week, the largest weekly decline since December 2014 on US output concerns. 

US production surged to 10.25 million bpd in the week ending February 2, a record high, passing Saudi Arabia to make the US the world's second largest crude producer. 

US Energy Information Administration raised output projections for 2018 to 10.59 million bpd, up 320 thousand bpd from last week's forecasts. 

Baker Hughes reported a rise of 26 rigs in the US oil rig count last Friday, the third weekly increase in a row and the largest since January 2017. 

Total US rigs have now risen to 791 rigs, the highest since April 2015. 

Ethereum lost 3% on Tuesday as most cryptocurrencies dip due to lower European demand after EU warnings, while Thailand outright banned cryptocurrency trading. 

At Bitstamp, ethereum fell $31, or 3.5% to $835 from the opening of $866, with an intraday high at $869, and a low at $819. 

Ethereum rose 7% on Monday, the first profit in three days, with while the market value of cryptocurrencies rose earlier this week to $458 billion, the highest since February 2, before sliding back to $422 on Tuesday, down $13. 

As cryptocurrencies recovered en masse since last week, their market value hovered around $400, still half their record high of $830 hit last January. 

Ethereum's network is adding two new standards to identify users, in a new development in the Blockchain technology to provide sharply increased security and stamp out money laundering operations. 

News report indicated that Beijing authorities are readying for a new bout of tightening regulations on cryptocurrency trading. 

Otherwise, European Union regulations warned that cryptocurrencies are unsuitable investments, describing them as extremely risky and volatile. 

Earlier this week, Thailand's central bank banned banks and financial institutions from trading or investing into cryptocurrencies, dealing a medium-size blow to cryptocurrencies' trading volumes.