Gold Turns Higher on German Business Data, Weaker Dollar (GLD) (IAU)

Gold ETFs and stock are on watch Tuesday as the precious metal continues to show gains.

Germany's Ifo index -- a measure of business confidence -- fell to 109.7 in June, from 110.4 in May and expectations of a drop to just 110.2. Ifo said, Assessments of the current business situation remained good, but companies were less optimistic about future business developments. The German economy fears the potential impact of the crises in the Ukraine and Iraq.

The U.S. dollar is also a little weaker on European trading, which sees shares lower on the German data. Low volume and technicals are expected to dominate the week.

SPDR Gold Trust (NYSE: GLD) and iShares Gold Trust (NYSE: IAU) are both positive, as is peer iShares Silver Trust (NYSE: SLV).

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