(RTTNews) - The price of gold was little changed Tuesday morning as the U.S. dollar was mixed ahead of inflation report, due out later today.
Gold for August delivery, the most actively traded contract, edged up $2.30 to $1,593.90 an ounce. Yesterday gold ended flat as traders were cautious ahead of this week's Federal Reserve testimony on monetary policy.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved down to 1,266.11 tons from 1,269.73 tons.
This morning, the U.S. dollar was leveling off from its 2-year high versus the euro, while trading flat against sterling. The buck was moving higher versus the yen and little changed against the Swiss franc.
In economic news from the euro zone, a measure of German investor sentiment declined for the third month in a row in July, results of a survey revealed. The ZEW Indicator of Economic Sentiment dropped to minus 19.6 points from minus 16.9 in June. That was slightly better than economists' forecast for a score of minus 20.
Meanwhile, U.K.'s annual consumer price inflation eased for a third straight month in June to the lowest level since November 2009, helped by falling fuel prices and heavy discounting to boost sales, the latest figures from the Office for National Statistics showed.
The prices of silver and platinum were trading higher in morning deals.
From the U.S., the consumer price index for June is scheduled to be released at 8:30 am ET. Economists expect the headline index to have remained unchanged compared to a 0.2 percent increase in core inflation. In May, consumer prices fell 0.3 percent, while core consumer prices rose 0.2 percent.
Later during the session, the National Association of Homebuilders will release the results of its July survey on homebuilders' confidence. The consensus estimates call for the index to increase by 1 point to 30.
