The price of gold was leveling off from its two-week low Tuesday morning amid a mixed U.S. dollar.
Gold for June delivery, the most actively traded contract, edged up $6.90 to $1,639.50 an ounce. Yesterday, gold ended at a 2-week low as the dollar strengthened against the euro and other major currencies following significant developments in France and the Netherlands. Impacting commodities were also some weak economic data from China and Europe, that sent stocks spiraling down across Europe.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved down to 1,281.94 tons from 1,286.17 tons.
Meanwhile, the U.S. dollar continued to level off from its three-week low versus the euro, while slipping back to a yearly low against sterling. The buck was ticking higher versus the yen and flat against the Swiss franc.
In economic news from the euro zone, the U.K.'s public sector net borrowing rose from a year-ago level in March, data from the Office for National Statistics showed. Public sector net borrowing (PSNB) excluding temporary effects of financial interventions, was GBP 18.2 billion in March, up from last year's GBP 17.95 billion. This was also higher than GBP 12.2 billion in borrowing in February and above economists' forecast of GBP 16 billion.
Elsewhere, the price of silver was ticking higher, while platinum was flat in morning deals.
From the U.S., the S&P/Case-Shiller home price index is scheduled to be released at 9 a.m.ET Economists expect a seasonally adjusted 0.1 percent month-over-month increase in the 20-city composite house price index for February.
Later during the session, the Commerce Department will release its new home sales report for March. The consensus estimate calls for new homes sales of 318,000 compared to 313,000 in the previous month.
Additionally, the Conference Board is scheduled to release its consumer confidence report for April at 10 am ET. The report is expected to show that the consumer confidence index dipped to 69.7 in April.
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