WASHINGTON (dpa-AFX) - Gold futures were little changed Tuesday after falling in five of the previous six sessions.
Traders moved to the sidelines ahead of tomorrow's interest rate decision from the Federal Reserve. While no rate change is expected, the Fed will likely begin to unwind its bloated asset sheet.
Dec. gold fell 20 cents to $1310.60/oz. The precious metal has lost its safe haven appeal as U.S. stocks surged to record highs in September.
In economic news, U.S. export prices rose by 0.6 percent in August following a 0.5 percent increase in the previous month. Export prices had been expected to edge up by 0.2 percent.
New residential construction in the U.S. unexpectedly decreased in the month of August, according to a report released by the Commerce Department on Tuesday.
The report said housing starts fell by 0.8 percent to an annual rate of 1.180 million in August from a revised 1.190 million in July. Economists had expected housing starts to jump by 1.7 percent.
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