The price of gold was leveling-off from its one-month high Tuesday morning, after registering its biggest one-day gain in over a year in the previous session, with the US dollar trading firm versus a basket of currencies.
Gold for August delivery, the most actively traded contract, shed $7.40 to $1,328.60 an ounce. Yesterday, gold jumped to settle at a one-month high as the dollar weakened against a basket of major currencies after some weaker-than-expected U.S. existing home sales in June, fueling expectations the U.S. Federal Reserve will continue to maintain its monetary stimulus policy.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved down to 931.26 tons from 932.46 tons.
Meanwhile, the U.S. dollar was leveling off from its one-month low versus the euro, sterling and the Swiss franc. The buck was ticking higher against the yen.
In economic news from the euro zone, U.K. exports hit the highest since the recession in the second quarter, boosting hopes of strong recovery, a survey carried out by British Chambers of Commerce and logistics firm DHL showed. The export index that measures the volume of export documents issued to businesses gained 2.85 percent from the first quarter. It was 2.94 percent higher than in the same period of previous year. The activity was the highest since 2007.
Elsewhere, the prices of silver and platinum were trading lower in morning deals.
From the U.S., the Federal House Finance Agency will release its house price index for May at 9 a.m. ET. The house price index is expected to have risen by 0.8 percent month-over-month in May following a 0.7 percent increase in April.
