WASHINGTON (dpa-AFX) - Gold futures settled slightly lower on Monday, snapping a seven-day winning streak, as the dollar firmed against major currencies after having shed some ground in the previous session on weak consumer sentiment data.
The dollar index rose to 95.46, gaining about 0.35%.
Gold futures for December ended down by $1.90 or about 0.1% at $1,866.60 an ounce. Gold futures gained nearly 3% last week.
Silver futures for December ended lower by $0.241 at $25.105 an ounce, while Copper futures for December settled at $4.4000 per pound, down $0.0495 from Friday's close.
Gold prices surged higher for seven consecutive sessions amid growing inflation worries after data showed U.S. consumer prices recorded their sharpest jump in over 30 years last month, and triggered speculation that the central bank likely start hiking interest rates by mid 2022.
A report released by the New York Federal Reserve today showed New York manufacturing activity grew strongly in the month of November.
The New York Fed said its general business conditions index jumped to 30.9 in November from 19.8 in October, with a positive reading indicating growth. Economists had expected the index to rise to 21.6.
Meanwhile, the report said firms were less optimistic about the six-month outlook than they were last month, with the index for future business conditions tumbling to 36.9 in November from 52.0 in October.
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