Gold futures were slightly higher on Tuesday as market players awaited reports on the U.S housing sector later in the day for further hints on the strength of the economy and the future path of interest rates.
Comex gold futures for December delivery added 90 cents, or 0.08%, to trade at $1,173.70 an ounce.
Comex silver for December delivery was up 0.44% to trade at $15,910 an ounce.
The U.S. Commerce Department is expected to issue a report at 8:30AM Eastern Time. Analysts expect housing starts to rise 1.2% in September to 1.140 million, while building permits are forecast to drop 0.9% to 1.160 million.
The possibility of a Fed rate increase has been a constant source of debate in the markets in recent months. The U.S. central bank has two more scheduled policy meetings before the end of the year, in late-October and mid-December.
Earlier in the day, the dollar had climbed 0.4% against a basket of currencies and rose against the euro as investors waited to see if the European Central Bank would offer more stimulus at a meeting this week.
Credit:mql5.com
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