Gold futures inched higher Tuesday morning, staying away from recent 5-year lows as the dollar relented versus major rivals.
Traders are looking ahead to a flurry of economic data and some Fed speeches. Gold prices have fallen sharply over the past few months, losing 6.7% in November on expectations for a Fed rate hike.
Gold for February was up 4 dollars at $1059 an ounce on the Comex.
U.S. manufacturing PMI reading due to be released by Markit at 9:45 am ET is expected to show a decline in the index to 52.6 in November from 54.1 in the previous month.
The Institute for Supply Management is set to release its manufacturing PMI data based on its national survey at 10 am ET.
Chicago Federal Reserve Bank President Charles Evans is scheduled to speak on the economy in East Lansing, Michigan at 12:45 pm ET. Federal Reserve Governor Lael Brainard will speak on the lower neutral rate in Stanford, California at 8 pm ET.
The material has been provided by InstaForex Company – www.instaforex.com