NEW YORK: Gold and platinum followed oil and other commodities on a journey towards south on the last day of the previous fiscal year.
Gold and other precious metals futures finished weaker on Monday in reaction to slipping prices for crude oil and other commodities. Long liquidations at the end of the quarter, as traders hunted down profits with which to close their books, also dampened prices.
June gold fell $US15 to finish at $US921.50 a troy ounce on the Comex division of the New York Mercantile Exchange. May silver slid US63 cents to $US17.31.
The euro was not able to extend early gains, and weakness in crude oil during the latter stages of the session helped pull down gold and silver, analysts said.
In other metals trading, July platinum fell $US5.40 to $US2043.40 an ounce, June palladium declined $US4.70 to $US450.20 an ounce, and the most active May copper contract fell 0.05 cent to settle at $US3.8310 a pound.