gold futures were seeing choppy trade on wednesday despite weakness in the us dollar and a retreat in treasury yields as global stocks slip amid rising geopolitical tensions “traders are awaiting new fundamental developments to move the precious metals markets” wrote jim wyckoff senior analyst at kitcocom in a daily note december gold gcz21 gc00 was trading 1 or less than 01 at 179240 an ounce following a 07 fall on tuesday some modest buying was being seen in precious metals as uschina tensions were seen flaring up china’s biggest telecom operator china telecom was being blocked from doing business in the us after the us federal communications commission voted monday to revoke and terminate a unit of the chinese company citing “significant national security and law enforcement risks” against that backdrop the 10year treasury yield tmubmusd10y was down to around 158 the us dollar was 01 lower as measured by the ice us dollar index dxy  weakness in the us dollar and the lower yields should ordinarily be supportive for gold which drifted up to around the 1800 for the first time in six weeks as concerns about outofcontrol inflation helped to boost bullion values tuesday’s pullback for gold were blamed on profit taking but wyckoff on tuesday suggested that conditions supportive for gold including uncertainty about the economic outlook due to covid19 remain in place to at least keep declines for the precious metal in check in us economic reports a reading of durablegoods orders for september fell 04 less than estimates for a 1 decline “core” durable goods order excluding items like aircrafts climbed 08 in september meanwhile silver for december delivery siz21 si00 was up 4 cents or 02 at 2414 an ounce following a 21 decline a day ago