(RTTNews) - The price of gold continued to retreat from its 2-week high Tuesday morning amid a flat U.S. dollar
Gold for February delivery, the most actively traded contract, slipped $10.60 to $1,723.90 an ounce. Yesterday gold retreated from its 2-week high, shedding nearly 1 percent after the leaders of France and Germany proposed a tough new treaty that includes stricter fiscal discipline among euro zone members.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,297.93 tons.
This morning, the U.S. dollar continued to linger around its two-week low versus the euro and sterling, while ticking lower against the yen and edging up versus the Swiss franc.
In economic news, the euro zone economy expanded as initially estimated in the third quarter, second estimates published by Eurostat revealed Tuesday. Gross domestic product grew 0.2 percent sequentially, in line with the initial estimate and matched the expansion seen in the second quarter.
Meanwhile, data from the Federal Ministry of Economy and Technology revealed that Germany's factory orders grew 5.2 percent in October from a month ago. The monthly increase was notably above the 1 percent rise forecast by economists and reversed the 4.6 percent fall logged in September.
Elsewhere, the prices of silver and platinum were moving lower in morning deals.
