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Gold Is Quiet Ahead of Fed Minutes

NEW YORK ( TheStreet) -- Gold prices were little changed Tuesday as traders remained unmotivated to push the precious metal into new territory before the Federal Reserve's policy-making wing releases minutes from its latest meeting.

Gold for December delivery at the COMEX division of the New York Mercantile Exchange was increasing 90 cents to $1,366.60 an ounce. The gold price traded as high as $1,373.20 and as low as $1,351.60 an ounce, while the spot price was climbing $4.25.

"As such I think we meander today with the bias slightly towards the downside ahead of tomorrow's report. No figures again today suggest another quiet one I'm afraid," David Govett, head of precious metals at Marex Spectron, wrote Tuesday in a note to clients.

Silver prices for September delivery were losing 14 cents to $23.03 an ounce, while the U.S. dollar index was sliding 0.53% to $80.85.

Gold mining stocks were mostly higher on Tuesday. Shares of Kinross Gold (KGC - Get Report) were adding 2.8%, while shares of Gold Fields (GFI - Get Report) were up 2.1%.

Gold ETF SPDR Gold Trust (GLD) was tacking on 0.33% to $132.45 a share, while iShares Gold Trust (IAU) was increasing 0.23% to $13.31 a share.

-- Written by Joe Deaux in New York.

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GLD $113.05 0.00%
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