Gold prices eased on Monday, as a weaker euro and oil's retreat halted the metal's attempt to test technical resistance at above $1,800 an ounce following last week's sharp rally. Bullion was pressured by lingering economic uncertainty after leading economies told Europe over the weekend it must put up extra money to fight its debt crisis if it wants more help from the rest of the world.
Spot gold edged down 0.2 percent at $1,769.40 an ounce by 3:06 pm EST (2006 GMT). Bullion rose 3 percent last week for its largest weekly rise in four weeks. US gold futures for April delivery settled down $1.50 an ounce at $1,774.90, as trading volume was about 70 percent below its 30-day average. Among other precious metals, silver was up 0.2 percent at $35.42 an ounce. Spot platinum was down 0.3 percent at $1,703.24 an ounce, while spot palladium was down 0.9 percent at $703.50 an ounce.
Comments
Comments are closed.