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Tuesday, January 27, 2015

Precious metals turn lower

Prices stumble lower amid a modest corrective pullback on Monday 


Bullion prices ended lower at Comex on Monday, 26 January 2014 at Comex. Gold futures declined on Monday as traders took profits after radical leftist party Syriza won the Greek election over the weekend, adding a dash of uncertainty to markets. After surging above the $1,300 per ounce level last week for the first time since August, April Comex gold futures have stumbled lower amid a modest corrective pullback on Monday. 

Gold for February delivery retreated $13.20, or 0.1%, to settle at $1,279.40 an ounce. 

March silver futures shed 6 cents to $18.30 an ounce. 

Traders will now look to Wednesday's Federal Reserve policy meeting for signals as to when interest rates might start to rise.
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