WASHINGTON (dpa-AFX) - Gold prices are slightly higher Tuesday morning, with traders continuing to seek the safe haven yellow metal despite a recovery in global equity masters.
Gold is up on lingering concerns about the eurozone economy and a weaker dollar amid speculation the U.S. Federal Reserve may not hike rates soon.
A number of Fed officials have hinted that the central bank may delay the end of its asset purchase program, not wanting to risk the fragile U.S. recovery.
Gold futures for December are up $4.00 or 0.32 percent at $1,248.70 an ounce, after rising to $1,254.10, the best level since September 10.
On Monday, gold futures ended up $5.70 or 0.5 percent at $1,244.70 an ounce, after rising to $1,249.30 intraday.
Silver for December is up $0.023 or 0.13 percent at $17.377 an ounce. Meanwhile, copper is up $0.007 or 0.24 percent at $2.995 per pound, after having declined to $2.975 earlier on fears of a fall in demand after Chinese economy recorded the slowest pace of growth since 2009.
Traders are looking ahead to the U.S. existing home sales report for September from the National Association of Realtors, at 10 am ET.
Copyright RTT News/dpa-AFX