WASHINGTON (dpa-AFX) - Gold futures ended lower for a second straight session Monday, due mostly to the absence of catalysts with low volumes even as the dollar turned higher against some major currencies boosted by the impending Hurricane Sandy. The New York trading floor remained closed due to evacuation orders on the threat posed by Hurricane Sandy.
The New York Stock Exchange was closed on Monday and will remain closed for Tuesday as well, in view of the looming threat of Hurricane Sandy.
On the economic front, personal income in the U.S. increased in line with estimates for September, while personal spending increased more than expected, a Commerce Department report showed.
Gold for December delivery, the most actively traded contract, dropped $3.20 or 0.2 percent to close at $1,708.70 an ounce Monday on the Comex division of the New York Mercantile Exchange.
Gold for December delivery traded at an intraday high of $1,717.80 and a low of $1,706.20 an ounce.
Last week, gold settled lower on global cues as investors weighed some soft data out of Europe and China, and the outcome of the Federal Reserve's two-day FOMC policy meet. Gold prices also reacted to comments from the European Central Bank chief on its bond buying program.
The euro traded lower against the dollar at $1.2894 on Monday, as compared to $1.2942 late Monday in North America. The euro scaled a high of $1.2945 intraday and a low of $1.2886.
The dollar index, which tracks the U.S. unit against six major currencies, traded at 80.28 on Monday, up from 80.00 in North American trade late Friday. The dollar scaled a high of 80.33 intraday and a low of 80.06.
In economic news from U.S., the Commerce Department said personal income increased by 0.4 percent in September following a 0.1 percent increase in August. The monthly increase matched the expectations of economists. Additionally, the Commerce Department said personal spending rose by 0.8 percent in September after climbing by 0.5 percent in August. Economists had expected spending to increase by about 0.6 percent.
From Europe, Sweden's retail sales increased in September, after recording a decline in the previous month, data released by Statistics Sweden showed. Retail sales volume increased a seasonally adjusted 1.7 percent sequentially in September, reversing the 0.4 percent decrease seen in August.
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