WASHINGTON (dpa-AFX) - Gold prices are notably lower Tuesday morning, with traders seeking riskier assets, tracking strong global equity markets.
A strong U.S. dollar amid expectations the European Central Bank will announce monetary stimulus later this week is also contributing to the bullion's decline.
Gold futures for December is down $14.90 or 1.16 percent at $1,272.50 an ounce.
On Thursday, gold futures had ended down $3.00 or 0.2 percent at $1,287.40 an ounce as some buoyant U.S. data lifted the greenback. For the week, gold gained about 0.4 percent.
Silver for December is down $0.249 or 1.28 percent at $19.243 an ounce. Meanwhile, copper is down $0.007 or 0.23 percent at $3.154 per pound.
During the week, traders will be looking ahead to a slew of economic reports including the U.S. non-farm payrolls data for August. The private sector employment report from ADP and weekly jobless claims data are also awaited.
The results of U.S. manufacturing and non-manufacturing surveys from the Institute of Supply Management are due at 9:45 am ET today.
The prices of goods from euro zone factories resumed their decline in July, putting further pressure on the European Central Bank to announce monetary stimulus at this week's meeting.
Producer prices fell 0.1% from June, and were down 1.1% from July 2014, according to the European Union's statistics.
Copyright RTT News/dpa-AFX