Gold
futures fell for the fourth time in five sessions as the dollar touched
a five-year high, damping investor demand for the metal as a store of
value.
The
Bloomberg Dollar Spot Index rose to 1,133.26, the highest since 2009,
amid signs that the U.S. economy is improving. Holdings in
exchange-traded funds backed by bullion fell 0.6 percent last week,
extending a drop to the lowest since 2009. Futures trading was 45
percent below the 100-day average for this time of day, data compiled by
Bloomberg show.
Gold
futures for February delivery slipped 1.1 percent to settle at
$1,181.90 an ounce at 1:46 p.m. on the Comex in New York. The price has
fallen 1.7 percent in 2014, after tumbling 28 percent last year.
Silver
futures for March delivery retreated 2.3 percent to $15.779 an ounce on
the Comex, the most in almost two weeks. The metal is down 19 percent
for the year.
Platinum
futures for April delivery fell 1.4 percent to $1,202.70 an ounce on
the New York Mercantile Exchange. Palladium futures for March delivery
dropped 0.8 percent to $812 an ounce.
Source : Bloomberg
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