Gold closed lower Tuesday, but prices kept to mid-1988 highs after gaining last week more
Gold closed lower Tuesday, but prices kept to mid-1988 highs after gaining last week more than $7 an ounce.
December gold futures dropped $1.10 at $447.90 an ounce on the New York Mercantile Exchange?s Comex division.
Trading played off action in the foreign-exchange market, with metals participants once again keeping a close eye on movements in the dollar.
According to TheBullionDesk.com analyst James Moore, concerns over the potential for intervention in the currency market, primarily in the yen, triggered light gains in the dollar.
December gold briefly traded as high as $449.40 an ounce in Tuesday's dealings on the Comex, its highest intraday level since July 1988.