(RTTNews) - The price of gold was extending gains Tuesday morning as traders focus on the tomorrow's EU meeting, which is expected to come with a tangible solution for the euro zone debt crisis.
Gold for December delivery, the most actively traded contract, edged up $11.50 to $1,663.80 an ounce. Yesterday, gold gained 1 percent amid optimism over a solution to the euro zone debt situation.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved up to 1,233.56 tons from 1,227.51 tons.
Meanwhile, the U.S. dollar was little changed versus the euro and sterling, while ticking higher against the yen and edging down versus the Swiss franc.
In economic news from the euro zone, Germany's consumer confidence is set to rise in November, according to a survey by the market research group GfK. The forward looking consumer sentiment index rose unexpectedly to 5.3 for November from 5.2 in October. Economists were expecting the index to dip slightly to 5.1 points.
Elsewhere, the prices of silver and platinum were moving higher in morning deals.
From the U.S., the S&P/Case-Shiller is due to release its house price indexes for August. Economists expect the results of the survey to show a 3.6 percent year-over-year drop in the 20-city composite house price index for August and a flat monthly reading.
Later during the session, the Conference Board will release its consumer confidence report for October. The report is expected to show that the consumer confidence index improved to 46 in October.
