2017.10.3108:14:00UTC+00Gold Hugs $1275 Ahead Of Housing Data

Gold futures were slightly lower Tuesday morning, moving in a tight range amid speculation the president will name Jerome Powell to replace Janet Yellen as Federal Reserve Chairman.

Gold was down $4 at $1274 an ounce, with stocks set to bounce back from yesterday's decline.

The precious metal has lost some of its appeal as U.S. stocks surged to record highs this month.

The Redbook Data that tracks comparable store sales at chain stores, discounters, and department stores on a weekly basis, will be published at 8.55 am ET. In the previous week the store sales were up 3.5 percent.

The State Street Investor Confidence Index will be issued at 10.00 am ET. In the prior month the index was at 104.4.

The S&P Corelogic Case-Shiller home price index for August that tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the U.S. will be revealed at 9.00 am ET. The consensus is for growth of 0.5 percent, compared to 0.3 percent in the previous month.