Gold Is Likely to Go Down

February gold futures are expected to open floor tradingaround $4 an ounce lower Monday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange.

At 7:54 a.m. EST, spot gold was trading down $5 to $789.60, while the February futures on the Chicago Board of Trade were down $4.10 to $794 an ounce.