January 2: Gold falls on stronger dollar, weaker oil prices

Source: MarketWatch

New York -- Gold futures fell Friday, pacing losses in crude oil and paring last year's gains, as a stronger U.S. dollar reduced the metal's appeal as an alternative investment. Gold for February delivery dropped $12.30, or 1.4%, to $872 an ounce on the Comex division of the New York Mercantile Exchange. The precious metal had ended last year's trading up 5.5%, making its eighth straight yearly gain, the longest winning streak since at least 1980.

Gold's losses on Friday were "tracking movement in the dollar," said economists at Action Economics. "However, expectations of more U.S. economic data weakness and continued tension in the Middle East should limit the pace of any decline." In currencies trading, the dollar moved higher against a basket of its major rivals. The dollar index rose 0.4%. The dollar and gold prices tend to move in the opposite direction. See full story.

December 30: Gold futures fall in thin trading; other metals mixed

Source: MarketWatch

New York -- Gold futures ended with a loss Tuesday, as economic data showed consumer confidence hit a record low and housing prices declined sharply. In very thin trading, gold for February delivery dropped $5.30 to end at $870 an ounce on the New York Mercantile Exchange. Gold futures have gained 4% this year.

"U.S. economic conditions continue to be extremely difficult following a disaster in holiday sales, and as economists see perhaps as many as half of the nation's retailers being in serious trouble," said Jon Nadler, senior analyst at Kitco Bullion Dealers, in emailed commentary. Consumer confidence hit a record low in December, according to the monthly Conference Board index reported Tuesday, as worries increased about current business and labor market conditions. The December consumer confidence index fell to 38 from a downwardly revised 44.7 in November. Economists surveyed by MarketWatch had expected a December reading of 45.8. See full story.

December 29: Gold rises as Israeli air strikes continue in Gaza

Source: MarketWatch

New York -- Gold futures ended with modest gains Monday after surging to their highest level since early October on safe-haven buying as Israeli air strikes against Hamas targets in the Gaza Strip continued for a third day. In thin trading, gold for February delivery ended up $4.10 at $875.30 an ounce on the New York Mercantile Exchange. Earlier in the session, gold soared to an intraday high of $892 an ounce on Globex, which was the precious metal's highest level since Oct. 9.

On Friday, gold futures rose $23.20, or 2.7%, at $871.20 an ounce on the Comex division of the New York Mercantile Exchange. This year, gold futures have gained 4%. "Bullion found a safe-haven bid during Monday's session in response to the acceleration in violence between Israel and Hamas," said analysts at Action Economics. See full story.

December 23: Gold futures fall as dollar strengthens, oil slides

Source: MarketWatch

New York -- Gold futures fell Tuesday in thinly-traded pre-holiday sessions, pacing losses in crude-oil futures as a strengthening dollar reduced the metal's appeal as an investment alternative. Gold for February delivery, the most active contract, ended down $9.10, or 1.1%, at $838.10 an ounce on the Comex division of the New York Mercantile Exchange. The contract traded in a range between $829.80 and $849.80. "Market players geared up for an early departure from work tomorrow," said Jon Nadler, senior analyst at Kitco Bullion Dealers. "Interest in trying to squeeze one more profitable day from an otherwise dismal year ebbed some more."

"Year-end book-squaring may offer only a narrow platform for significant price swings," he added. The nearby December contract, which expires Dec. 29, also moved lower Tuesday to end at $837.20. Open interest, or the number of outstanding contracts for December delivery, stood at 413 as of Tuesday, or 41,300 ounces, according to Comex data. See full story.