Gold was trading close to a three-week low as strong U.S. economic growth boosted equities and the dollar, weakening safe-haven bids for bullion.
U.S. crude futures extended losses after inventories unexpectedly surged last week as imports jumped and refineries maintained output.
The dollar hovered at its highest in nearly nine years after strong U.S. economic growth caused market speculation of earlier interest rate hike.
Stocks furthered record gains Tuesday after the economy expanding in the third quarter by the most in 11 years.
U.S. government debt prices moved slightly higher in thin trade on Tuesday ahead of the last day of big data before the Christmas break.
U.S. stock index futures signaled a higher open on Wednesday, with volumes expected to be thin as markets close early for the Christmas holiday.
European shares closed higher on Tuesday, with revised growth data from the U.S. and record gains on Wall Street boosting sentiment.
Asian stocks traded mixed on Tuesday, overlooking a strong session on Wall Street, as fears of a further slump in oil prices resurfaced.
Brent steadied traded near $61 a barrel on Tuesday after data showed the U.S. economy grew at its quickest pace in 11 years in the third quarter.
Australian dollar hit a 4-1/2-year trough against its U.S. counterpart as prices of iron for construction fell in China amid weak demand.
Gold rose, moving away from a three-week low hit in the previous session, as the dollar and equities eased after recent rallies.
Stocks mostly rose Monday, with the S&P gaining after its best week in nearly two months.
U.S. stock index futures signaled a higher open on Tuesday as investors awaited a slew of economic data, following another record close.
European shares ended higher on Monday, with sentiment boosted by a rebound in the Russian ruble, while earlier gains in the oil price were.
The euro bounced back from two-year lows against a slightly weaker dollar on Monday, with Greece's election among risks to a calmer mood.
Oil prices resumed their downward march on Monday after Saudi Arabia's powerful oil minister said OPEC would not cut production at any price.
Gold edged up as the dollar retreated against the euro, though stronger equities and appetite for risk continued to dull the metal's appeal.
Asian equities largely rose on a data-light Monday following a bounce in oil markets and a third consecutive winning session on Wall Street last Friday.
U.S. stock index futures signaled a higher open on Monday after a record close Friday, still fueled by the pledge from the Fed.
Stocks rose on Friday, after the S&P 500's best two-day streak in years.
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