Thin Markets, U.S. Dollar Drive Gold Lower
New York (Dec 29) A stronger U.S. dollar and thin trading conditions are helping to drive down gold prices Monday, according to analysts from Triland Metals. Gold prices have dropped more than 1% during the session, and as of 1:45 p.m. EST Comex February Gold was trading at $1,182.20 an ounce. Analysts at Triland say that the key support area to watch will be around $1,170 an ounce. They add that investors and traders will have to wait until the new year to determine the true price trend.