From Chris Mullen at GoldSeek.com...
Gold Price fell $17 from last week's close early in London on Monday, dropping as low as $914.60 by midmorning in New York.
But Gold then stormed back higher in the last hour-and-a-half of trade and ended near its high of $928 with a loss of just 0.53%.
Silver traded about 2% lower in Asia and London before it fell even further in New York. Despite also rallying back higher into the close, it ended with a loss of 2%.
The Gold Price in Euros fell to about €588 per ounce, platinum lost $49.50 to $1972, and copper lost nearly ten cents from Thursday’s close to about $3.86.
Gold and silver equities fell roughly 2% at the open and remained at about that level for the rest of the day.
There were no major US economic reports, but the US Dollar found support from weak UK and German industrial data.
Tuesday at 15:00 GMT brings the latest US Pending Home Sales report, expected to show May's sales dropping 2.8%. Wholesale Inventories follow, with Consumer Credit for May then expected at $7.0 billion.
Crude oil fell nearly $6 on profit-taking as geopolitical fears eased following the long US weekend that saw no new action with Iran.
The energy markets bounced into the US close, however, as the Dollar index came off its earlier highs and Treasuries rose after Federal Reserve Bank of San Francisco President Yellen commented that housing and banking problems would likely get worse before they get better.
The Dow, Nasdaq, and S&P opened higher on markedly lower oil prices, but all three indices fell off by early afternoon on worries over the credit market that sent the financials lower.
Fannie Mae and Freddie Mac – the US government-sponsored mortgage lenders – were especially hurt by rumors that they need to raise large amounts of capital.
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