US gold eases

30 Jul, 2008

US gold futures retreated on Monday due to a lack of market driving news, while platinum extended last week's losses on fears of lower autocatalyst demand because of poor US auto sales.
GOLD: August down $2.90 at $923.90 an ounce on the COMEX division of New York Mercantile Exchange at 9:56 am EDT (1356 GMT).August futures ranged from $922.40 to $932.90.
Bullion taking direction from oil, which trades near the unchanged level. US crude futures up 10 cents at $123.36 a barrel, failing to boost gold's inflation hedge appeal.Spot gold at $923.00/924.00, compared with $927.40/929.40 late Friday.
SILVER: September down 2.5 cents at $17.350 an ounce. Ranged from $17.270 to $17.54. Spot silver at $17.30/17.36 compared with $17.35/17.43 late Friday.

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