Gold prices are lower Tuesday morning, with traders going in for riskier assets, tracking stronger equity markets.
However, the downside is limited due to persisting worries about the situation in Gaza.
Traders are looking ahead to the data on U.S. consumer price inflation and existing homes sales report, due later this morning.
Pro-Russian rebels handed over the flight recorder boxes of the Malaysian Airlines passenger jet that crashed in eastern Ukraine last week, prompting investors to seek riskier assets.
Meanwhile, despite ongoing attempts to work out a cease-fire, the Israeli forces are reportedly engaged in intense battle with Hamas.
Gold futures for August are down $5.80 or 0.44 percent at $1,308.10 an ounce.
Silver for September is down $0.099 or 0.47 percent at $20.913 an ounce. Meanwhile, copper is up $0.015 or 0.46 percent at $3.214 per pound.
Traders are looking ahead to the U.S. Labor Department's report on consumer price inflation report for June, due at 8:30 am ET. Economists expect consumer prices to have increased 0.3 percent month-over-month, while core consumer prices may have climbed 0.2 percent.
At 9 am ET, the Federal House Finance Agency is due to release its house price index for May, and at 10 am ET, the U.S. Commerce Department will release its existing home sales report for June. Economists expect existing home sales to come in at a seasonally adjusted annual rate of 4.99 million units compared to 4.89 million units in May.
Also at 10 am ET, the Richmond Federal Reserve will release the results of its regional manufacturing survey. Economists expect the manufacturing index to rise to 5.5 in July from 3 in June.
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