Gold edged higher on Tuesday as the euro held steady against the dollar, but gains were muted ahead of this week's European Central Bank meeting as investors weighed up the prospects of definite action to tackle the euro zone debt crisis. Euro was gaining against the greenback, quoting at $1.2286, up 0.26% against the greenback over the last close. Indian currency was holding above Rs 55.40 mark level against the USD during the late evening trading session. COMEX Gold most active December contract is quoting at $1628.6, up $4.6 per ounce over the last close. Silver September contract quotes at $28.240, up 0.207 per ounce during the after hours trading session. MCX Gold near month August contract rose to high Rs 29,930 level and quoting at Rs 29,880, up Rs 100 per 10 grams. Technically, September contract has next resistance at Rs 30060, Rs 30100 while support is at Rs 29,820, Rs 29,750 per 10 kg. MCX Silver September was quoting at Rs 54,170, Rs 343 per 1 kg. 

The euro gained ground against the U.S. dollar and the yen on Tuesday, but remained off recent highs amid worries over whether the European Central Bank will disappoint market expectations for fresh measures to tackle the debt crisis in the euro zone.

Asian rose Tuesday as sentiments continued to build that the U.S. Federal Reserve and the European Central Bank may hint at a need to stimulate their respective economies, which would weaken the dollar and the euro and send global stock prices rising.

European stocks were mixed in choppy trade on Tuesday, as losses in financial stocks weighed while investors eyed the European Central Bank's policy meeting this week, amid speculation the central bank may announce fresh easing measures.

U.S. stock futures pointed to a higher open on Tuesday, as investors eyed the Federal Reserve's policy meeting for signs of more stimulus measures in the coming months, while expectations for further easing by the European Central Bank supported sentiment.

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