Gold Slips as Investors Wait for Economic Cues

Gold fell $6.04 or 0.47 percent to $1,286.70 an ounce on Tuesday, according to Reuters. Investors are waiting on U.S. economic data to for directional cue, leaving the yellow metal stuck below the $1,300 range.

“The long period of neutrality in the market would mean, most likely, large impulsive movements when a direction is found,” Joyce Liu, analyst at Phillip Futures, told Reuters. “We are inclined to not take any position now and ride in the direction of the market – whether up or down – when such a direction is found.”

U.S. gold futures fell $4.90 or 0.38 percent to $1,286.80 per ounce.