Gold lower in early U.S. trade, as risk appetite increases; Fresh data awaited

On Tuesday gold prices were steadily lower in early U.S. trade, as "outside markets' remain bearish. The U.S. dollar was higher and crude oil prices were lower.

An increase in investor risk appetite this week is also a negative for safe-haven gold.

August Comex gold was last down $2.00 at $1,182.10 an ounce.

July Comex silver was last down $0.147 at $15.99 an ounce.

Investors await Greece's fate to be determined in few days, as Monday failed to bring any constructive solution to break the impasse between Greece and its creditors.

Now, a meeting is scheduled between Greece and EU officials on Wednesday. Then a summit of EU leaders is scheduled for Thursday and Friday.

Although, it was reported that eurogroup leaders were generally satisfied with proposals presented by Greece's Prime Minister Alexis Tsipras, some rumors circulate that some EU officials, especially Germany, do not believe a deal with Greece is imminent.

Greece has a big debt payment due on June 30, and presently does not have means to repay for it. Meanwhile, the European Central Bank continues to provide daily emergency cash to Greek banks, which are seeing heavier customer withdrawals of cash.

Investors will now await fresh U.S. data due later in the session, which will include the weekly Goldman Sachs and Johnson Redbook retail sales reports, durable goods orders, the monthly house price index, the U.S. flash manufacturing PMI, new residential sales and the Richmond Fed business survey.