WASHINGTON (dpa-AFX) - Gold futures tumbled Monday as stocks rebounded to dent the precious metal's safe haven appeal.
Traders expect the Federal Reserve will raise interest rates in December, further diminishing gold's shine.
Gold was down $20.10 at $1276.40 an ounce, a decline of 1.5%. Silver plunged 48 cents, or 2.7%, to $16.90.
With the impact of recent hurricanes dissipating, the Conference Board released a report on Monday showing a much bigger than expected jump by its index of leading U.S. economic indicators in the month of October.
The Conference Board said its leading economic index surged up by 1.2 percent in October after inching up by a revised 0.1 percent in September.
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