(RTTNews) - The price of gold was hovering above $1,370 Wednesday morning amid a firm U.S. dollar.
Gold for December delivery, the most actively traded contract, eased $2.20 to $1,375.40 an ounce. Yesterday, gold added $20 despite a strong dollar as geopolitical tension reduced investors' risk appetite.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,285.08 tons.
Meanwhile, the U.S. dollar was heading towards its 10-week high versus the euro. The buck was hovering around its 1-month high against sterling, while trading relatively flat versus the Swiss Franc and the yen. The euro fell versus a basket of currencies on concerns that some other euro nations, including Spain and Portugal, might be in need for a rescue package.
Elsewhere, the price of silver edged down, while platinum moved up in morning deals.
Today's focus will be on a host of economic data from the U.S., including durable goods order, personal spending, weekly jobless claims and the results of consumer sentiment survey by Reuters/University of Michigan. Economists expect durable goods orders to drop by 0.3%, while personal income is seen rising 0.4%. Weekly jobless claims are seen edging up to 442,000 and the consumer sentiment index is expected to be upwardly revised to 69.4 from 69.3.
