The price of gold was little changed Monday morning as traders await cues from this week's economic data.
Gold for August delivery, the most actively traded contract, edged up $1.10 to $1,592.50 an ounce. Last week, gold shed nearly 2 percent after indications from the Federal Reserve that it may intervene if financial conditions worsen, although without any clarity in the issue. The precious metal earlier found support on a surprise rate cut by China.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,274.79 tons.
This morning, the U.S. dollar was leveling off from its two-year high versus the euro and trading flat against sterling. The buck was ticking higher versus the Swiss franc, while trading lower against the yen.
Elsewhere, the prices of silver and platinum were moving higher in morning deals.
by RTT Staff Writer
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