Gold Futures Dip 1.3% Cut October Gain to 6.3%

Gold futures beneath Monday as a assemblage in the U.S dollar pressured bolt and the broader banking markets.

COMEX gold for December 2011 commitment – the best actively-traded arrangement – fell $22.00, or 1.3%, to accomplishment at $1,725.20 per ounce. With the loss, the chicken metal accomplished the ages of October with a 6.3% gain.

While 6.3% is absolutely a noteworthy gain, it apparent alone the 4th best ages this year for gold. The chicken metal surged 8.6% in April, 7.7% in July, and 13.0% in August. Its affliction ages appropriately far in 2011 was September – historically the best ages for gold prices – with a 11.1% drop.

Silver futures aloof alongside gold on Monday, with the COMEX December 2011 arrangement sliding $0.93, or 2.7%, to $35.35 per ounce. While gold’s sister adored metal surged 14.0% in October, it apparent aloof its 4th best ages this year.