Investing.com - Gold and silver futures edged lower on Tuesday,
as investors looked ahead to key U.S. economic data later in the
day for further indications on the strength of the economy and the
future course of monetary policy.
On the Comex division of the New York Mercantile Exchange, gold
for August delivery fell to a session low of $1,305.20 a troy
ounce, the weakest level since July 18, before trimming losses to
last trade at $1,308.30 during U.S. morning hours , down 0.43%, or
Futures were likely to find support at $1,298.10, the low from
July 17 and resistance at $1,325.50, the high from July 18.
Also on the Comex, silver for September delivery dipped 0.41%,
or 8.7 cents, to trade at $20.92 a troy ounce.
The U.S. was to release reports on consumer price inflation and
existing home sales later in the session, amid ongoing speculation
over when the Federal Reserve may start to raise interest
Meanwhile, traders awaited new developments from Ukraine and the
Sentiment recovered after pro-Russian rebel leader Aleksander
Borodai handed over the black boxes of the downed Malaysian
passenger plane to Malaysian experts earlier Tuesday.
The United Nations Security Council voted unanimously on Monday
to approve a resolution calling for an international probe into the
incident and unimpeded access to the crash site.
The U.S. initially blamed pro-Russian separatists for the act,
while Russia and Ukraine accuse each other of being behind the
downed passenger plane.
European Union foreign ministers are to meet later Tuesday to
discuss another round of sanctions against Russia, as the country
continues to violate Ukraine's sovereignty and back
Elsewhere, the U.S. stepped up efforts to secure a ceasefire in
the Gaza strip, as fighting between Israeli security forces and
Hamas militants continued.
U.S. Secretary of State John Kerry and United Nations chief Ban
Ki Moon arrived in Cairo late Monday for talks aimed at stopping
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