Daily Gold Update

Source: Marketwatch

— Gold futures fell Monday, with traders taking profit from last week's 5% rally and finding little indication for direction from the U.S. dollar and oil. Gold futures for December delivery fell $7.80, or 0.9%, to $825.70 an ounce on the New York Mercantile Exchange. Futures fell earlier to an intraday low of $820.50. Gold ended last week's trading up 5.2%.

"Gold remains hesitant and is not getting clear direction from the dollar which is essentially flat," said Mark O'Byrne, executive director at Gold and Silver Investments Ltd. "Higher oil prices and weakness in equity markets should result in gold remaining well bid as this market session progresses, but given the degree of macroeconomic and geopolitical uncertainty anything can happen in these markets in the short term," he said in emailed comments. See full story.