RTTNews) - The price of gold was steady above $1,520 Tuesday morning amid lingering worries over the euro zone debt situation and weak U.S. dollar.
Gold for June delivery, the most actively traded contract, advanced to 3-week high, gaining $7.60 to $1,523.00 an ounce. Yesterday, gold extended gains for a second session despite a firm U.S. dollar.
Meanwhile, the U.S. dollar was paring its recent gains versus the euro and sterling. The buck was ticking lower versus the Swiss franc and trading flat against the yen.
Today's data from the Federal Statistical Office showed that the German economy expanded 1.5 percent in the first quarter from the previous quarter, in line with the initial estimate published on May 13. The sequential growth rate accelerated sharply from the 0.4 percent expansion seen in the fourth quarter.
Elsewhere, the prices of silver and platinum were ticking higher in morning deals.
In economic news, the U.S. Commerce Department will release its report on new home sales at 10 a.m. ET. Economists expect new home sales to come in flat at a seasonally adjusted annual rate of 300,000 in April.
