Gold come under some pressure

The gold price oscillated around $1,670 per ounce Monday morning ahead of the latest batch of U.S. economic reports. A quiet overnight in Asia, with Chinese players out for the next three days, saw gold come under some pressure. This pressure was extended into this morning, as a relatively strong dollar combined with the threat of poor physical demand from India (as we enter a third week of a nationwide strike in protest against gold levies) dampened investor enthusiasm for the metal. The white metals have fared relatively better, although this is only because the are trading mostly sideways, in line with euro/dollar movements this morning.

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