Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as China is in the Lunar New Year holiday.

The most active gold contract for April delivery fell 5.70 U.S. dollars, or 0.28 percent, to close at 2,033.00 dollars per ounce.

Seasonal strength of gold usually ends with the start of the Chinese lunar New Year holiday.

Gold is in a large consolidation region. Market analysts hold that it's probably only a matter of time before buyers will come back in, suggesting buying gold near the 2,010-dollar level.

U.S. consumer price index will be released on Tuesday.

Silver for March delivery rose 17.30 cents, or 0.77 percent, to close at 22.767 dollars per ounce. Platinum for April delivery rose 18.90 dollars, or 2.15 percent, to close at 897.10 dollars per ounce.

Source:
courtesy of XINHUA NEWS AGENCY

by Xinhua News Agency

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