Gold futures for February delivery GC2G -0.48% fell $8.20 to $1,646.30 an ounce, after closing down $5.40, or 0.3%, to end at $1,654.50 an ounce on the Comex division of the New York Mercantile Exchange.
Other precious and base metals prices also fell, while crude oil for February delivery was also weaker. March silver futures SI2H -0.41% fell 8 cents to $30.43 an ounce, slightly off from the $30.51 an ounce, late the prior session.
Copper futures for the same month HG2H -1.00% fell 4 cents or 1% to $3.76 a pound.
Platinum for April delivery PL2J -0.62% retreated $9.20, or 0.6%, to $1,508.80 an ounce. March palladium PA2H -1.02% fell $8.40, or 0.5%, at $670 an ounce.
PRECIOUS METALS IN ASIAN TRADE
Gold headed for a third weekly gain, the longest rally in two months, as signs of a recovering U.S. economy bolstered commodity prices. Platinum was poised for its best weekly run in six months and palladium in a month.
Spot gold traded at $1,657.98 an ounce at 2:41 p.m. Singapore time after climbing to $1,669.97 yesterday, the highest level since Dec. 13. Platinum is 2.1 percent higher this week for the longest weekly rally since July, while palladium has advanced 5.4 percent. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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