Daily Gold Update

Source: Marketwatch

New York— Gold futures closed modestly lower Monday, extending last week's loss of nearly $15 an ounce on the heels of a steep drop in oil prices, but finding some "safe haven" support from expectations for slower U.S. economic expansion for the rest of this year.

Gold for December delivery fell by 30 cents to close at $666.50 an ounce on the New York Mercantile Exchange. It climbed $8.80 on Friday, but still lost $14.80 last week. See full story.