June gold futures are expected to open floor trading in New York around $4 an ounce higher Tuesday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. May silver is expected to be down 6 cents an ounce. Spot gold rose overnight as recently lower prices drew physical buyers back into the market, London-based analysts said. At 7:51 a.m. EDT, spot gold was trading up $6.40 to $876.20. In other markets that have the potential to impact metals in the short term, the euro is down to $1.3266 from $1.3417 late Monday afternoon. In screen trading ahead of the pit open, the June S&P 500 futures are down 15.30 points to 814.80. May crude oil is down $1 to $50.05 a barrel in overnight activity. No major U.S. government economic reports are due out Tuesday morning. The minutes of the March Federal Open Market Committee meeting are scheduled for release at 2 p.m. EDT (1800 GMT). In New York Monday, gold futures sank sharply as funds sold, participants booked profits and general investor sentiment soured as the U.S. dollar rose and economic optimism increased after a G20 meeting where International Monetary Fund gold sales were discussed. June gold fell $24.50, or more than 2.7%, to settle at $872.80 an ounce, while May silver lost 62.5 cents, or nearly 5%, to settle at $12.11. Comex gold warehouse stocks were up 62,767 ounces at 8,584,405 ounces Monday, while silver stocks were down 1,696,800 ounces at 117,752,915 ounces.

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