Gold futures declined, silver futures added 0.2% to $28.73 an ounce Monday

Gold futures declined in electronic trade during Asian hours Monday, extending their slide after recent advances, as the U.S. dollar strengthened against the backdrop of worries over European debt troubles.

The precious metal’s Comex contract for February delivery  lost $7.80, or 0.5%, to $1,609 an ounce.

The losses came on top of a decline for gold during the regular session on the Comex division of the New York Mercantile Exchange, when it snapped a four-session winning streak as the greenback rose against the euro after stronger-than-expected U.S. nonfarm payrolls data.

The U.S. dollar inde, which measures the greenback against a basket of six major currencies, rose to 81.383 Monday from 81.244 in North America late Friday.

The drop in gold also came as Asian stocks suffered broad declines.

Among other metals, March copper futures  lost 0.8% to $3.41 a pound, and palladium for delivery in the same month  dropped 0.7% to $509.50 an ounce.

April platinum futures  declined 0.6% to $1,399.90 an ounce, while March silver futures  added 0.2% to $28.73 an ounce. – MarketWatch

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Posted by admin on Jan 9 2012. Filed under Gold price. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry