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Gold weaker, at daily lows amid bearish outside markets

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are modestly down and have hit new daily lows in late-morning action Monday. A combination of a stabilizing U.S. dollar index, weaker crude oil prices and firmer U.S. stock indexes is putting mild downside pressure on the safe-haven metal. A bit of chart-based selling is also evident as the near-term technical posture for gold is not as bullish as it was a few weeks ago. December gold was last down $2.50 an ounce at $1,491.60.

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