US gold pulled further off the 2-1/2 month high set late last week as crude oil prices continued to decline and the dollar's advance undermined both commodities in early Tuesday's activity, traders said. The August contract dropped $12.70 or 1.37 percent to $916.10 an ounce on the COMEX division of New York Mercantile Exchange.
August gold set a lower low at $913.0 off the lower high at $935.30. The 2-1/2 month high was set last Thursday at $950. COMEX estimated 11:00 am EDT (1500 GMT) gold volume at 104,106 lots, with options turnover at 2005 lots. Thursday's tally came to 140,740 lots, with open interest up 6,959 at 445,754 lots. Spot gold down at $914.90/915.90 from $925.15/926.35 in late Monday trade in New York.
September silver was down with gold at $17.71 an ounce, down $21.0 or 1.17 percent. COMEX silver hit a $17.55 an ounce low, off the high at $18.0450, and down from the 2-1/2-month high hit Thursday at $18.5850 an ounce. COMEX estimated 11:00 am EDT (1500 GMT) silver volume at 17,828 lots, compared with 30,024 lots on Thursday. Spot silver was lower at $17.64/17.70 which was off from $17.79/17.84 late Monday.
October platinum falls $38.90 or 1.96 percent to $1,944.90 an ounce. Spot platinum was quoted lower at $1,949.0/1,969.0 in late trade. September palladium lost $5.05 or 1.12 percent to $444.50 an ounce. Spot palladium was down at $437.5/445.50.
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