Daily Gold Update

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— Gold fell 0.8% in thin holiday trade, closing just under $1,204 on rising risk appetite. With the U.S. economy on the upswing and inflation flat for now, safe-haven assets like gold and silver are losing favor as investors pour their wealth into equities. The Dow edged up today to its fifty-first record close in 2013. Meanwhile, gold and silver have suffered their worst annual declines since 1981, with gold dropping 28% this year while silver has fallen 35%.

The other precious metals also closed lower, with silver down 1.7% while platinum and palladium declined 0.9% and 0.2%, respectively.

At the Comex close: February gold fell $10.20 to $1,203.80; March silver lost 35 cents to $19.70; January platinum shed $12 to $1,364; and March palladium declined $1.15 to $710.80