Gold on track for first annual loss since 2000

Published on NewsOK Modified: December 23, 2013 at 2:33 pm •  Published: December 23, 2013

NEW YORK (AP) — Gold prices are lower again, keeping the metal on track for its first annual loss since 2000.

The actively traded February contract edged down $6.70, or 0.6 percent, to settle at $1,197 an ounce Monday.

Gold is down 29 percent this year. It has been falling as fears dissipated that the Federal Reserve's easy-money policies would cause inflation and weaken the dollar. Last week the central bank said it would start to reduce its huge bond-buying program in January.

Silver for March delivery fell four cents, or 0.2 percent, to $19.413 an ounce.

Benchmark U.S. crude oil fell 41 cents, or 0.4 percent, to $98.91 a barrel. Other energy futures mostly fell. Natural gas prices rose.

Wheat and soybean futures fell. Corn edged higher.


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