Gold Ends Monday Lower as Stocks Hold Flat, T-Bonds Slip Ahead of Massive New Auctions
From Chris Mullen at GoldSeek.com...
Gold rose to a new one-month high versus the Dollar and saw a gain of $6.14 at $1127.99 in Asia on Monday.
The Gold Price then fell back to trade near unchanged in London, and dropped in late morning New York trade, down as low as $1109.80 by about 11:00 EST.
The Gold Price then rebounded in the last couple of hours of trade, but it still ended with a loss of 0.8% in Dollars.
The Gold Price in Euros fell to about €819 an ounce.
Oil climbed above $80 on continued worries over Iran's nuclear program and France’s refinery strikes.
The US Dollar index saw fell a bit as traders continue to watch the Euro due to worries over Greece and sovereign debt.
Treasuries fell on worries over this week's massive auctions of new US debt.
The Dow, Nasdaq, and S&P remained near unchanged on mixed earnings reports.
Silver fell to as low as $16.12 before it also bounced back higher, but it still ended with a loss of 1.04%.
Platinum lost $8 to $1523, and copper fell 5 cents to about $3.31.
Gold Mining and silver equities fell over 1% by late morning and remained near their lows for most of the rest of trade.
There were no major US economic reports on Monday. Tuesday at 09:00 EST brings the Case-Shiller 20-city Index for December, expected down 3.0% year-on-year, and at 10:00 comes Consumer Confidence for February expected at 55.0.
Fed chairman Ben Bernanke speaks before Congress on Wednesday and Thursday.
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