Gold prices are lower Tuesday morning with investors treading cautiously ahead of release of a slew of U.S. economic data including reports on durable goods orders and consumer confidence.
Gold futures for August are down $8.90 or 0.69 percent at $1,283 an ounce, its lowest level since May 12.
Silver for July is down $0.166 or 0.85 percent at $19.252 an ounce.
Meanwhile, copper is down marginally at $3.166 per pound.
Investors will be looking ahead to the durable goods order data from the U.S. Commerce Department, due at 8:30 am ET. Economists expect new orders to have declined 0.8 percent month-over-month, while excluding transportation orders may have edged down 0.1 percent.
At 9 am ET, the Federal House Finance Agency will release the results of its house price survey for March. The consensus estimate calls for a seasonally adjusted 0.5 percent month-over-month increase in the index following a 0.6 percent increase in February.
Around the same, the S&P/Case-Shiller house price index for March is due, with economists expecting the 20-city house price index to increase by 0.7 percent month-over-month, slightly slower than the 0.8 percent increase in the previous month.
The flash estimate of Markit's service sector for the U.S., due at 9:45 am ET, is expected to show an increase in the service sector purchasing managers index to 55.4 in May from 54.2 in April.
At 10 am ET, the Conference Board will release the results of its consumer confidence survey. Around the same time, the Richmond Federal Reserve is due to release its manufacturing index for May. Finally, at 10:30 am ET, the Dallas Federal Reserve will release the results of its Texas manufacturing survey for May. The index is expected to slip to 9.6 from 11.7 in April.
