LSE: Gold Drops Near USD1170 As Greece Jitters Persist
WASHINGTON (Alliance News) - Gold prices were lower Tuesday morning amid last ditch efforts to revive talks between Greece and its creditors.
Greeks appear ready to default on their sovereign debt, unwilling to fulfill terms of a rescue package from a few years back.
Gold for August was down USD8 at USD1171 an ounce as the dollar was poised to challenge parity will the euro if the Greek crisis deepens.
The Conference Board is scheduled to release its consumer confidence index for June at 10 am ET. The consensus estimate calls for an increase in the index to 97.4 from 95.4 in May.
On the economic front, at 9 am ET, S&P/Case-Shiller is due to release their house price index for April. Economists expect a 0.8% month-over-month increase in the 20-city composite house price index following a 1% increase in the previous month.
