Gold was for December delivery in December on the Comex division of the New York Mercantile Exchange last down $ 9.60, or 0.91 percent to $ 1,066.70 an ounce. Trade ranged from $ 1,065.00 to $ 1,076.50.
"In spite of the slight recent restoration, and the growing physical demand, the price of gold is still in a period of weakness.," Said Heraeus, who added that short-term support is now $ 1,066, while the testing of low-cost 2010 at $ 1,045 looms even on the horizon was growing geopolitical uncertainties that tend to support the 'metal crisis "is not able to change the current trend.
At the same time, in the market on a wider scale, the dollar remains strong at 1.0620 against the euro as investors expect the Federal Reserve to raise interest rates to 0.5 percent in mid-December meeting in December.
Specific data in gold, COMEX gold fell net longs by 4490000 ounces to 2.45 million ounces last week, the lowest level since mid-September. Gold pants serious, and at the same time, sit down on the 18.5 million ounces, or 90 percent of all premature, according to an analysis UBS CFTC data.
"Justified changes in locations, where market participants are expected to raise interest rates in December the Fed. But the speed and size of the whitening - especially the increase in gross pants - raises the risk of possible short covering," said UBS.
"This position has also become gold now very lean reduces the downside risk of a pronounced response should the Fed begins to tighten in December than it otherwise," said a broker.
In today's data, flash US manufacturing PMI disappointed at 52.6, as did sales of existing homes in 5.36 million.
Earlier, French flash manufacturing PMI was as expected at 50.8 but PMI services flash 51.3 undershot. Manufacturing and services indicators flash German PMI at 52.6 and 55.6, respectively, both exceeded expectations, as did the EU flash manufacturing PMI at 52.8 and PMI services managers in flash 54.6.
As for the other precious metals, Comex silver for January delivery was 56 cents or 0.40 percent to $ 14.070 an ounce. Trade has ranged from $ 13.855 to $ 14.155.
The Platinum futures for January delivery on the Nymex down $ 9.00 at $ 846.90 an ounce, while palladium contract was the most actively traded at $ 538.55 an ounce, down $ 20.35.