Gold News & Info

Source: MarketWatch

New York— Gold futures fell Monday for a sixth session, ending slightly lower as the U.S. dollar rallied after the Treasury Department said the government seized control of mortgage giants Fannie Mae and Freddie Mac. Gold for December delivery fell 30 cents to end at $802.50 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal has lost $32.70 an ounce in the past three sessions.

The dollar rose to the highest in one year against the euro. It also jumped to the strongest against the British pound in more than two years. A stronger dollar tends to push down dollar-denominated commodities prices. In other metals, silver for December delivery fell 2.6% to $12 an ounce, followed by December copper, down 0.2% to $3.09 a pound. October platinum slid 1.2% to $1,352 an ounce, while the December contract for palladium lost 2.8% to $265 an ounce. See full story.