| Gold prices gave up gains Monday as a broad selloff in commodities and a stronger dollar pulled the market down. Front-month gold futures for January lost $1.30, or 0.1%, to $1,096.50 a troy ounce on the Comex division of the New York Mercantile Exchange. Gains had approached 1% overnight but slid throughout traditional U.S. trading hours.
The market had lost ground Friday, too, after a surprisingly strong set of U.S. jobs numbers strengthened the dollar. Gold, like other dollar-denominated commodities, typically moves in the opposite direction of the dollar because an appreciating dollar makes gold more expensive for traders who primarily use another currency...............................................Full Article: Source
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