(RTTNews) - The price of gold was leveling off from its four-month high Tuesday morning even as traders await cues from a key meeting of central bankers at the weekend that could give indications on the course of U.S. monetary policy.
Gold for December delivery, the most actively traded contract, shed $11.40 to $1,664.20 an ounce. Yesterday, gold extended its 4-month high as investors remained cautious while awaiting some cue on further quantitative easing at the upcoming central bankers conference in Jackson Hole, Wyoming, which will be addressed by the U.S. Federal Reserve Chairman Ben Bernanke later this week.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,286.50 tons.
Meanwhile, the U.S. dollar was slipping back toward a two-month low versus the euro and the Swiss franc, while trading flat against sterling and the yen.
In economic news from the euro zone, German consumer confidence is set to remain unchanged in September, contrary to expectations for a decline, a key survey revealed today. Market research group GfK said its consumer confidence index for September scored 5.9, unchanged from August and belying economists' expectations for a drop to 5.8.
The prices of silver and platinum were moving lower in morning deals.
From the U.S., the S&P/Case-Shiller home price index is scheduled to be released at 9 a.m. Economists expect a 0.3 percent year-over-year drop in the 20-city composite house price index for June.
Later during the session, the Conference Board will release its consumer confidence report for August. The consumer confidence index is expected to edge down to 65.5 in August.
