Gold prices struggles as it drops while the U.S. dollar strengthen, proving the economy is improving.
The yellow metal is still struggling just below the $1,400 level for the fourth time on Tuesday.
Among the expected data releases Is the data from the US consumer confience and the Shiller Case composite house price index for investors.
Spot gold dropped 0.46% to $1,388.35 at 5.34am GMT. The yellow metal has dropped by 17% so far this year after getting a break during the two sessions last week. Dollar rallied by 5.1 percent against a six currency basket and was traded at 83.840 with predictions by the Federal Reserve, which may scale back quantitative-easing measures that assisted the metal cap a 12-year bull run in 2012.
Recently gold managed to retrieve its safe-haven status and received a boost from Asia after a fright over the Japanese market and withdrawal from investors. The Japanese central bank inserted 2 trillion yen into the markets to help the government bond yield rally at the beginning of the trading session.
Last week, US Federal Reserve Chairman Bernanke refused to withdraw the current pace of monetary stimulus until the economy improves; however the Fed currently buys $85 billion of Treasury and mortgage debt every month. Spot gold is heading for a second monthly loss as it dropped 5.9 percent in May.
Cash silver fell by 0.9% to $22.4805 an ounce while Platinum had a slight fall at $1,450.75 an ounce.
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