DUBAI: Gold prices fell below $1,100 despite a weaker U.S. dollar. Gold for February delivery was sinking another $12.50 to $1,090.70 an ounce at the Comex division of the New York Mercantile Exchange. Prices have traded as high as $1,098.0 and as low as $1,081.90. The U.S. dollar index was also falling 0.27% to $78.20 as the euro rallied.
Obama Creates Buying Opportunity
Gold settled down almost $10 to $1,103.20 an ounce on the news. Also weighing on gold prices is the worry that China will tighten credit ending the supply of free money, which has helped stimulate the global economy.
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