(RTTNews) - The price of gold was little changed Monday morning amid a mixed dollar and rising equities.
Gold for December delivery, the most actively traded contract, edged up $1.00 to $1,238.90 an ounce.
Last week, gold oscillated between $1,211 and $1,246 before settling at $1,237.90 an ounce amid a mixed batch of economic news. New homesales in U.S. plunged by 12% and durable goods order edged up by a meager 0.3% in July. Existing home sales fell by 27% in July, belying economists expectations for a drop of only about 12%. Meanwhile, U.S. GDP growth in the second quarter was downwardly revised to 1.6% from the advance estimate of 2.4%, still less than economists expectation for a revision to 1.4%.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, edged up to 1,298.56 tons from 1,297.95 tons.
The U.S. dollar was ticking higher versus the euro, while trading lower against sterling. The buck was paring its recent gains versus the yen.
The British pound was moving higher after the British Chambers of Commerce hiked U.K.'s 2010 GDP growth forecast to 1.7% from the earlier 1.3%. Similarly for 2011, the Chamber upped its forecast to 2.2% from the 2% predicted in June.
Elsewhere, the price of silver edged up and platinum ticked lower in morning deals.
Traders will look to the data on personal income and consumption from the U.S. due out later today.
