US gold futures closed with moderate losses on Tuesday, falling prey to investors taking profits off the day-earlier run to a 2-1-2-month high once crude oil prices declined, traders said. Gold for February delivery finished $5.30, or 0.61 percent, lower at $870.0 an ounce on the COMEX division of the New York Mercantile Exchange.
The range spanned $864.70 to $885.90 an ounce, after reaching it's highest since October 10 at $892.0 on Monday. US trading desks remained lightly staffed ahead of the New Year's holiday on Thursday. Spot gold was lower at $868.40-871.50 an ounce by late New York trade than $874.25-$877.25 an ounce on Monday. March silver rallied 17.0 cents to a strong finish at $10.98 an ounce, a 1.57, percent increase.
Spot silver reversed course to turn up to $10.87-10.97 an ounce in late New York dealings from $10.75-10.85 an ounce on Monday. NYMEX January platinum slipped $8.0 to end at $909.90 an ounce. Spot platinum reversed course to turn higher. A late Tuesday quote in New York put the metal at $913.50-$918.50 an ounce. NYMEX March palladium moved down $2.85 to $184.15 an ounce by the end. Spot palladium was quoted at $182.50/187.50 an ounce.
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