The price of gold was little changed Monday morning as the U.S. dollar was steady ahead of this week's economic data.
Gold for August delivery, the most actively traded contract edged up $2.70 to $1,569.60 an ounce. Last week, gold lost close to 4 percent to settle near a three-week low as the Federal Reserve failed to announce the much anticipated monetary stimulus after its policy meeting also impacted gold prices.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,281.62 tons.
This morning, the U.S. was steady around its two-week high versus the euro and extending recent gains against sterling. The buck was leveling off from its one-month high against the yen, while ticking higher versus the Swiss franc.
Elsewhere, the prices of silver and platinum were moving higher in morning deals.
During this week traders' focus will be on the Commerce Department's new homes sales report for May, the National Association of Realtors' pending home sales index for May, the Conference Board's consumer confidence index for June and the weekly jobless claims data, the results of the ISM-Chicago's manufacturing survey for June, the Commerce Department's personal income and spending report for May and the durable goods orders report for May.
From the U.S., a report on new home sales is due out at 10.00 am ET. Economists expect the sales to come in at 350,000, up from last month's 343,000.
by RTT Staff Writer
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