Gold Rebounds From Three-week Low

Washington ( Apr 22 )  Gold prices are up modestly Tuesday morning, with investors picking up the yellow metal after recent declines. However, with the US economy showing signs of a fairly good recovery, gold's gains are just modest.

Gold futures for June delivery are up USD3.30 or 0.26% at USD1,291.80 an ounce, coming off a near three-week low of USD1,282.00 an ounce it touched on Monday.

On Monday, gold futures ended down USD5.40 or 0.4% at USD1,288.50 an ounce, the lowest levels in more than two weeks, as investors chose riskier assets following some upbeat earnings reports from the US and a few encouraging economic data from the US and China last week.

Silver for May is up USD0.142 or 0.73% at USD19.493 an ounce, coming off a low of USD19.290 an ounce.

Meanwhile, copper May futures are down USD0.011 or 0.35% at USD3.032 .

In economic news, investors will be looking ahead to the Federal House Finance Agency's house price index for February. The data is due at 9 am ET . Economists expect the house price index for the month to increase a seasonally adjusted 0.3% month-over-month following a 0.5% increase in January.

Also in line for release during the day are the existing home sales report for March from the National Association of Realtors and the Richmond Federal Reserve's manufacturing index for April. These two reports are due at 10 am ET .