Gold Falls to 7-Week Low, Silver Slips Under $17

New York gold futures fell on Tuesday to a seven-week low as the US dollar again rallied. Propping the greenback up was a government report showing economic growth during the third quarter, and better than expected home sales data in November. In other metals, platinum declined while silver retreated slightly, reaching a low point of below $17 an ounce. US stocks advanced.

New York precious metal figures follow:

• Gold for February delivery declined $9.30, or 0.8 percent, to $1,086.70 an ounce. It ranged from $1,098.20 to $1,075.20.

• Silver for March delivery ended a half penny down to close at $17.030 an ounce. It ranged from $17.190 to $16.780.

• January platinum fell $26.60, or 1.9 percent, to end at $1,396.90 an ounce. It ranged from $1,427.40 to $1,382.00.

In PM London bullion, the benchmark gold price was fixed earlier in the day to $1,084.00 an ounce, which was a decline of $21.50 from Monday. Silver retreated 32 cents to $16.950 an ounce. Platinum was settled at $1,410.00 an ounce, falling $19.00.

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