As U.S. markets re-open Tuesday after Independence Day celebrations, investors were jittery as they were unsure whether the precious metal will lose or gain in value. The metal sank beneath the $1,500 per troy ounce marker on Friday when dropping 1 percent in value.
"Gold has eased, but we're still in a pretty tight range since early May," analyst Yingxi Yu of Barclays Capital commodities told Bloomberg, noting no clear indicator is driving the metal at this time.
At 5:34 a.m. on Tuesday, gold futures climbed 1.10 percent, a $16.30 rise to $1,498.90 per troy ounce.
A Commerzbank analyst told Reuters that concerns about Greece's navigation through the sovereign debt crisis have relaxed after progress last week. High points include the Greek prime minister suggesting cuts, the Aegean nation's legislators approving the budget-slashing measures and euro zone finance ministers' favorable outlook likely turning into a needed bailout package.
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