By Deborah Levine
NEW YORK (MarketWatch) -- Gold prices gave up most of the gains seen in Asian and European trading on Monday while the dollar remained under slight pressure in holiday-thinned trading. Analysts notes that the main news over the long holiday weekend came from China, which raised its lending and deposit rates. The dollar index (DXY 80.38, -0.12, -0.15%) which measures the greenback against a basket of six major currencies, traded at 80.378, down slightly from 80.487 in North American trade late Thursday. The euro (EURUSD 1.3138, +0.0024, +0.1830%) rose to $1.3142, from $1.3114 Thursday. U.S. markets were closed Friday for Christmas and London markets are closed Monday and Tuesday. Gold for February delivery rose 50 cents to $1,380.50 an ounce.
