(RTTNews) - The price of gold edged up Tuesday morning on safe haven appeal amid lingering concerns over the euro zone debt issues that dragged the euro down to a multi-year low versus the U.S. dollar.
Gold for August delivery, the most active contract, edged up $7.90 to $1,222.90 an ounce, after settling almost flat in the previous session.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at a new lifetime high of 1,267.93 tons.
Meanwhile, the U.S. dollar surged to a new 4-year high versus the euro and was hovering near its yearly peak against the British pound.
Elsewhere, the prices of silver and platinum were ticking lower in morning deals.
Traders will look to the report on construction spending for May from the Commerce Department and the results of the manufacturing survey of the Institute of Supply Management, scheduled for release later today, to get clues on the strength in the recovery of the economy.
