Gold prices held steady near seven-week highs early Tuesday, supported by political uncertainty and a slump in dollar, after registering their biggest monthly gain in five months in July.

FUNDAMENTALS

* Spot gold was nearly flat at $1,268.88 per ounce at 0040 GMT. It rose 2.2 percent last month, its biggest monthly gain since February. 

* U.S. gold futures for August delivery were also almost unchanged at $1,267.50 per ounce.

* Contracts to buy previously owned U.S. homes rebounded in June after three straight monthly declines, but the housing market remained constrained by a shortage of properties available for sale.

* The U.S. Mint sold 16,500 ounces of American Eagle gold coins in July, up from 6,000 ounces the previous month, according to the latest data.

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