Gold finished slightly lower today as the focus remained on stocks in the wake of the S&P 500’s first-ever close above 2,000.
Gold for December delivery settled down 0.1% at US$1,283.40 an ounce on the Comex.
Money managers have cut their wagers on a bullion rally in three of the past four weeks, and open interest in New York futures and options is near the lowest in five years, U.S. government data show.
The S&P was little changed today after yesterday closing above 2,000 for the first time.
In other metals, September silver finished up nearly 0.1% to US$19.41 an ounce.
October platinum rose 0.1% to US$1,419.90 an ounce, while September palladium rose 0.6% to US$893.90 an ounce.
High-grade copper for September delivery declined less than a penny at US$3.18 a pound.
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