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RTRS: U.S. gold falls to 10-day low on resurgent dollar
 
NEW YORK, Aug 10 (Reuters) - U.S. gold futures fell to a
10-day low under $950 an ounce on Monday, losing more than 1
percent on technical selling and a resurgent dollar amid
positive economic news. For the latest detailed report, click on [GOL/]. GOLD * December gold GCZ9 settled down $12.60, or 1.3 percent,
at $946.90 an ounce on the COMEX division of the New York
Mercantile Exchange. * Ranging from $959.30 to $944.20 an ounce -- the lowest
price since July 31. * Gold weakened further on Friday's dollar rally amid good
economic news, and gold will come off as long as the dollar
keeps strengthening - Miguel Perez-Santalla, vice president of
sales of Heraeus Precious Metals Management. * The dollar gained for a third straight day on economic
optimism following Friday's strong U.S. jobs numbers. * December futures broke below technical support at the
recent low around $953 an ounce, triggering stop-loss orders -
New York precious metals broker. * Firm underlying support seen at around $940 - broker. * A revamped third five-year pact to limit sales of
European central bank gold, complete with a lowered ceiling for
planned disposals, is seen boosting the investment case for
bullion and extending its multi-year rally. [ID:nLA367098] * International Monetary Fund on Friday welcomed a new
European Central Bank gold sales agreement and said it expects
its membership to authorize the sale of 403 tonnes of IMF gold
in coming weeks. [ID:nN07406865] * Gold/oil ratio at 13.36, slightly lower than 13.38 from
the previous session * COMEX estimated final gold volume at 77,670 lots. * Spot gold XAU= at $944.50 an ounce at 2:40 p.m. EDT
(1840 GMT), compared with $953.80 an ounce in late New York
business on Friday. * London afternoon gold fix XAUFIX= at $945 an ounce. SILVER * September silver SIU9 ended down 31.3 cents, or 2.1
percent, at $14.355 an ounce, tracking gold's decline. * Ranging from $14.275 to $14.695 an ounce. * COMEX estimated final silver volume at 29,289 lots. * Spot silver XAG= was at $14.34 an ounce versus $14.59
an ounce in Friday's late quote. * London silver fix XAGFIX= at $14.47 an ounce. PLATINUM * October platinum PLV9 finished down $17.60, or 1.4
percent, at $1,250.90 an ounce as easing worries about labor
actions in top producer South Africa provided selling
pressure. * The chief negotiator from South Africa's biggest union
said on Monday he did not see an imminent strike at state power
firm Eskom, which has offered an increased 10.5 percent wage
rise. [ID:nLA267381] * Spot platinum XPT= at $1,241 versus $1,261.50. PALLADIUM * September palladium PAU9 closed down $2.45 at $276.60
an ounce on profit-taking. * Spot palladium XPD= at $272, against its previous
finish of $273.
Source