Gold On Track For Annual Loss

(RTTNews) - The price of gold was moving lower Tuesday morning, with the US dollar trading mixed versus a basket of currencies. After hitting a peak of near $1,700 an ounce this calendar year, gold was lingering around its 3-year low.

Gold for February delivery, the most actively traded contract, eased $0.70 to $1,203.10 an ounce. Yesterday, gold lost about 1 percent after data from the U.S. showed pending home sales index increased, even as the dollar weakened against a basket of major currencies.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, moved down to 798.22 tons from 801.22 tons.

This morning, the U.S. dollar was lingering near a 2-week low versus the euro and around a 2-year low versus sterling. The buck was extending its 5-year high against the yen, while flat versus the Swiss franc.

The prices of silver and platinum were moving lower in morning deals.

From the U.S, Standard & Poor's will release its S&P/Case-Shiller house price index for October at 9 a.m ET. Economists expect house prices to have increased 1 percent month-over-month on a seasonally adjusted basis in October, the same pace of increase as in the previous month.