The price of gold was little changed Monday morning as the U.S. dollar was trading mixed ahead of this week's economic data.
Gold for December delivery, the most actively traded contract, edged up $1.50 to $1,725.50 an ounce. Last week, gold surrendered over 2 percent to slip back to a monthly low after some encouraging macroeconomic data from the U.S. and China lifted equity markets, with the dollar also ticking higher. Investors were also awaiting the outcome from the crucial European heads of state summit last week.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, edged up to 1,334.19 tons from 1,333.89 tons.
Meanwhile, the U.S. dollar was lingering around its one-month low versus the euro and leveling off from a two-week high against sterling. The buck was trading flat against the Swiss franc, while advancing to a fresh three-month high versus the yen.
In economic news from the euro zone, a leading indicator of the German economy declined for the sixth consecutive month in August as large declines in consumer confidence and new orders in investment goods industries more than offset positive contributions from stock prices and the yield spread, data from a survey by the Conference Board showed. The leading economic index decreased 0.3 percent on a monthly basis to 102.3 in August, after falling 0.2 percent and 0.4 percent respectively in the previous two months.
Meanwhile, a report from the Eurostat revealed that euro zone government deficit declined for a second consecutive year in 2011, while debt continued to rise. The government deficit fell to 4.1 percent of gross domestic product in 2011 from 6.2 percent in 2010 and 6.3 percent in 2009.
The prices of silver and platinum were ticking higher in morning deals.
