CHICAGO, Sept. 24 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell moderately on Monday, as a stronger U.S. dollar and negativity about Europe pressured trading.
The most active gold contract for December delivery lost 13.4 dollars, or 0.75 percent, to settle at 1,764.6 dollars per ounce.
After rising around 0.3 percent in the previous week, gold reversed its course and ended lower on Monday.
Traders across markets continued to watch the financial situation in Europe with uncertainty, with the possibility of a Spanish bailout causing particular concerns.
Negativity about the eurozone caused the dollar to rise sharply, which in turn placed additional pressure on gold. A stronger greenback is a negative factor for commodities, as it makes them more expensive to holders of other currencies. Supportive commodity crude oil also fell in the day.
However, the recent decision by the U.S. Federal Reserve to launch a third round of quantitative easing provided gold with some underlying support, which allowed the precious metal to recover slightly from morning lows. Quantitative easing policies are a positive factor for gold, which traditionally rises on fears of inflation.
Silver for December delivery sharply fell 65.4 cents, or 1.89 percent, to close at 33.984 dollars per ounce.
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