The Comex precious metals complex was pulled lower on Tuesday
The Comex precious metals complex was pulled lower on Tuesday at the New York Mercantile Exchange amid a flurry of fund liquidation mixed with a strong U.S. dollar, Dow Jones reported.
"Gold had an extremely busy Comex opening and started $2 lower, which caused
heavy selling interest right to initial lows," analysts at MKS Finance said in
a daily note. "Not even the impressive surge in oil prices was able to help the
precious metal to limit the damages."
The benchmark December contract settled $5.90 lower at $435.50. During the
session the contract touched a 4 1/2-week low of $433.50.