The price of gold was moving higher Tuesday morning on safe haven buying even as the U.S. dollar was steady ahead of US polls.
Gold for December delivery, the most actively traded contract, gained $9.10 to $1,692.30 an ounce. Yesterday, gold rebounded from recent losses as investors sought safe haven in the precious metal ahead of the U.S. presidential elections
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved down to 1,332.38 tons from 1,336.30 tons.
Meanwhile, the U.S. dollar was steady near a two-month high versus the euro and the Swiss franc, while hovering near a two-week high against sterling. The buck was trading around its 4-month high versus the yen.
In economic news, euro zone producer price inflation remained unchanged at 2.7 percent in September, data released by Eurostat showed. This was marginally above economists' forecast of 2.6 percent. The producer price index in total industry, excluding the energy sector, increased 1.2 percent year-on-year.
Meanwhile, Germany's private sector contracted at steeper pace than estimated earlier in October, detailed results of a survey by Markit Economics showed. The composite output index, that measures performance of both manufacturing and service sectors, fell to 47.7 in October from 49.2 in September. The preliminary results showed a higher score of 48.1.
The prices of silver and platinum were ticking higher in morning deals.
