Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold dipped 0.2% to close under $1,320 as tech shares pulled Wall Street higher and the dollar ticked up for a second day, dulling demand for alternative assets.

The Dow rose 0.4% and the Nasdaq added 1% as traders bet on solid earnings from major players like Google-parent Alphabet and Disney. Optimism about US-China trade talks also fueled risk appetite.

The dollar rose 0.3% against major rivals as forex traders coasted on Friday's stellar report of 304,000 new jobs added in January. Given the Fed's avowal last week to be "patient" before further rate hikes, however, most analysts see little cause for continued dollar momentum. Eurozone wholesale inflation fell by 0.8% in December, undercutting the case for tighter monetary policy and weakening the euro.

Tepid US data capped gains by the dollar and limited gold's decline. Data delayed by the government shutdown showed factory orders fell by more than expected in November, at 0.6%. Business investment in core durable goods, considered a weathervane of future growth, dropped for the third straight month.

The other precious metals were mostly lower, with silver and platinum dropping 0.3% and 0.5% while palladium picked up 1.3%.

At the Comex close: April gold dipped $2.80 to $1,319.30; March silver lost 5 cents to $15.88; April platinum slid $3.90 to $822.80; and March palladium climbed $16.80 to $1,330.40 an ounce.