Daily Gold Update

Source: MarketWatch

New York— Gold futures finished down Monday, as gains in the U.S. dollar and declining crude-oil prices dampened demand for the precious metal. Gold for February delivery fell $3.70 to end at $862 an ounce on the New York Mercantile Exchange. Gold futures also ended down Friday, losing $3.40 an ounce, but the benchmark contract tallied a weekly gain of $23, or about 2.7%.

"Given the recent surge in metal prices, a period of consolidation is healthy for the longevity of the current bull-trend," said James Moore, an analyst at TheBullionDesk.com, in a research note. "With little improvement in the health of the U.S. economy, interest rates still forecast to move lower, record oil prices creating inflationary pressure and little improvement in the geopolitical climate, gold should remain in a strong mood and look to challenge $900 an ounce during the first quarter," Moore said. See full story.