NEW YORK (Dow Jones)--December gold futures are expected to open floor trading in New York around $8 an ounce lower Monday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. December silver is expected to be down about 30 cents an ounce. In overnight activity, spot gold recouped some earlier losses in Europe, but remained around $1,000 a troy ounce, vulnerable to selling if the dollar rallies further. Gold fell below $1,000/oz in Asia but then recouped some of its losses in Europe, helped by some weakening in the dollar. News late Friday that the International Monetary Fund board approved a plan to sell one eighth of its total gold holdings also weighed on prices, traders and analysts said. In recent trading, spot gold was down $5.70. the euro was down to $1.4669 from $1.4699 late Friday in New York. In screen trading ahead of the pit open, the December S&P 500 futures were down 5.40 points. October crude was down $1.49 in overnight activity. The August Conference Board leading indicators are scheduled for release at 10 a.m. EDT (1400 GMT), with the leading index expected +0.7%. In New York Friday, a stronger U.S. dollar pressured gold futures, and participants booked profits, but the most-active contract managed its sixth consecutive close over $1,000 an ounce. Most-active December gold fell $3.20 to settle at $1,010.30 an ounce. Comex December silver fell 20 cents, or more than 1.1%, to settle at $17.065 Comex gold warehouse stocks were down 135 ounces at 9,248,716 ounces Friday, while silver stocks were down 811,339 ounces at 116,814,812 ounces.

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