21.11.201713:54:00UTC+00Gold Edges Higher Despite Risk Appetite

Gold futures edged higher Tuesday even as rising stocks dented the precious metal's safe haven appeal.

Gold rose $4.90 to $1280.20 an ounce, staying in a fairly tight trading range over the course of the session.

The Dow Jones Industrial Average surged up 180 points to 23,612, taking back recent losses amid optimism over corporate earnings.

Existing home sales in the U.S. jumped by much more than anticipated in the month of October, according to a report released by the National Association of Realtors on Tuesday.

The report said existing home sales surged up by 2.0 percent to an annual rate of 5.48 million in October from a downwardly revised 5.37 million in September.