Higher dollar index pushes prices lower
Bullion prices ended lower at Comex on Monday, 07 December 2015. Gold was moderately lower in early afternoon trading on Monday. The key outside markets were also in a bearish posture for the precious metals on Monday, as the U.S. dollar index was higher and crude oil prices were sharply lower and near a seven-year low.
February Comex gold ended down $8.00 at $1,076.20 an ounce. March Comex silver ended down $0.188 at $14.34 an ounce.
The raw commodity sector continues to suffer as its leader, crude oil, saw Nymex futures trade below $38.00 a barrel Monday. The U.S. dollar index has regained about half of its big losses suffered last Thursday, while the Euro currency has given back not quite half of its gains seen in the immediate aftermath of the ECB monetary policy easing news last Thursday.
There was no major, markets-moving world economic news for traders and investors to digest Monday. Next week's FOMC meeting is coming more into focus. The majority of traders believe the Federal Reserve will raise U.S. interest rates for the first time in nine years on December 2016.
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