WASHINGTON (dpa-AFX) - Gold futures settled higher on Tuesday after moving in a tight band as investors awaited some key economic data including a report on personal income and spending.
The dollar's weakness contributed a bit to gold's rise. After trading weak in the European session, the dollar index briefly moved above the flat line before turning weak again. It was last seen at 103.75, down 0.08% from the previous close.
Gold futures for April ended higher by $5.20 at $2,044.10 an ounce.
Silver futures for March edged up $0.006 to $22.532 an ounce, while Copper futures for March settled at $3.8280 per pound, gaining $0.0080.
In economic news today, a report released by the Commerce Department this morning showed durable goods orders plunged by 6.1% in January after falling by a revised 0.3% in December.
Economists had expected durable goods orders to tumble by 4.5% compared to the unchanged reading that had been reported for the previous month.
Meanwhile, the Conference Board released a report showing an unexpected deterioration in U.S. consumer confidence in the month of February.
Data on consumer confidence, weekly jobless claims and manufacturing activity are likely to attract investor attention in the coming days.
The Commerce Department's report on personal income and spending, which is scheduled to be released on Thursday, includes a reading on consumer price inflation said to be preferred by the Federal Reserve.
The inflation report along with speeches due from several Federal Reserve officials due this week could have a notable impact on the outlook for interest rates.
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