Gold News & Info

Source:Bill Musgrave, American Gold Exchange

Austin— Gold fell 0.7% to close under $1,190 as the dollar extended recent gains and the Dow held above 20,000, reducing demand for alternative assets. The metal fell for a third session but remains up around 3.5% this year.

The dollar added 0.5% against major rivals, especially the euro and yen, on renewed optimism about Donald Trump's pro-growth policies. A stronger dollar weighs on gold and other commodities denominated in it for international trade by making them more expensive to foreign buyers.

Executive orders to open oil pipelines and trim regulations, signed in recent days, have increased risk-appetite and driven Treasury yields higher, drawing foreign exchange investment and boosting the buck. They have also helped the Dow to push further into record territory, adding another 0.2% to rise above 20,100 today.

The markets largely shook off reports that new-home sales tumbled in December to a 10-month low and jobless claims jumped by 22,000 last week.

The other precious metals were mostly lower, with silver and palladium sliding 0.8% and 1.6%, respectively, while platinum ended flat.

At the Comex close: February delivery dropped $8 to $1,189.80; March silver lost 13 cents to $16.85; April platinum was even at $981.70; and March palladium gave up $11.65, to $724.45 an ounce.