Gold Extends Early Losses, Hits 3-Month Low, on Technical Selling, Strong Greenback
New York (Sept 8) Gold prices have extended their mild early losses to trade moderately lower in late-morning dealings Monday. December Comex gold poked to a three-month low as technical selling is featured amid a near-term price downtrend, including some sell stop orders being triggered. The rallying U.S. dollar index that hit a 13-month high Monday is also a bearish weight on the precious metals markets.
Spot gold last traded down $17 an ounce at $1,254, while spot silver fell 26 cents to $19.02.
Spot platinum tumbled nearly $15 to $1,398, while spot palladium dropped $9 to $884.