News Column

Gold Slips for Third Session

Jan 7, 2013

The price for an ounce of gold slipped Monday, losing $2.60 to settle at $1,646.30 on the Comex division of the New York Mercantile Exchange.

It was the third consecutive day gold prices fell with precious metals in a correction pattern prompted by the tax code signed into law last week.

The tax code gave equities a boost, erasing some of gold's appeal as a safety net.

Silver on Monday moved slightly higher, adding 14 cents or 0.45 percent, to $30.08, helped by a weaker dollar.

The dollar index, which measures the U.S. dollar against six other major currencies on a pro-rated scale, dropped 0.45 percent to 80.14.

By close of trading, the euro rose to $1.312 from Friday's $1.3117. The dollar was 87.54 yen from Friday's mark of 87.79 yen.

Source: Copyright United Press International 2013

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