RTTNews - Gold moved modestly lower on Monday, giving back gains from the previous session. A weaker U.S. dollar weighed on the metal's hedge appeal.
December-stamped gold fell to $943.70 per ounce, down $11 on the session. Earlier, the metal hit an 11-day high of $958.50.
The dollar rose off of a 2 1/2-week low against the euro on a choppy day of trading. The greenback also saw mild strength against the sterling. Usually gold moves in the opposite direction of the dollar.
There's no major economic data on the calendar for today. On Tuesday, the S&P/Case-Shiller Home Price Index is due at 9 a.m. ET. A drop of 16.4% is projected for the month of June, compared to a decline of 17.06% in May.
At 10 a.m. ET Tuesday, the Conference Board will reveal its consumer confidence data. A reading of 48.0 is expected for August, compared to 46.6 in July.
On Friday, gold closed up $13 at $954.70 an ounce after ending Thursday's trading down $3.10 at $941.70 an ounce.
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