Daily Gold Update

Source: Marketwatch

New York— Gold futures ended lower Monday, part of a broad decline in commodities, as the U.S. dollar advanced on fresh worries about the financial sector. December gold futures Monday fell $13.60, or 1.3%, to $1,042.8 an ounce at the close of floor trading in New York, The contract earlier had hit an intraday high of $1,060.80 an ounce in electronic trading on Globex. Copper for December delivery lost 2 cents, or 0.8%, to $3.011 a pound. December silver fell 63 cents, or 3.5%, to $17.095 an ounce.

Gold, seen as a safe place to park cash in uncertain times, often trades in the opposite direction as U.S. stocks. But lately, both have been rising together as a several-months slide in the U.S. dollar has made hard assets such as gold and oil more valuable, and at the same time, supports profits at U.S. companies with international earnings. A reversal of these trends weighed on stocks and commodities Monday. See full story.