Gold Locked In Tight Range Near $1070

Gold prices remained little changed Tuesday, stuck in a tight range near 6-year lows in the absence of first-tier economic data.

Bullion may barely budge heading into the new year, as traders wait for more clues about the next interest rate move by the Federal Reserve.

February gold settled 30 cents, or less than 0.1%, lower at $1,068/oz.

On the U.S. economic front, Standard & Poor’s released a report showing that home prices in major metropolitan areas rose more than expected in October.

The report said the S&P/Case-Shiller 20-City Composite Home Price Index climbed 0.8 percent in October after rising by a revised 0.5 percent in September.

A separate report from the Conference Board showed that consumer confidence rebounded by more than expected in December.

The material has been provided by InstaForex Company – www.instaforex.com

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