Gold futures fell Monday, pulling back after topping $1,000 an ounce in the previous session as traders adjusted their positions. Meanwhile, crude oil and U.S. stocks futures rose modestly. Gold for February delivery was last down $15.20, or 1.5%, at $986.60 an ounce in North American electronic trading. It ended above $1,000 Friday, the first time for a front-month contract since Mar. 18, 2008. The February contract will expire on Wednesday, with open interest, or the total amount of outstanding contracts, standing at 193,300 ounce as of Friday. Trading more actively, the April contract, which also ended above $1,000 Friday, lost 1.5% at $987.40 an ounce. "With gold topping $1,000, some correction and consolidation may be necessary," said Mark O'Byrne, executive director at Gold and Silver Investments. In financial news Monday, Citigroup Inc. reportedly is in talks with federal officials for the U.S. government to expand its ownership of the bank to as much as 40%. Markets worldwide welcomed the report, which comes just after Citigroup's stock slumped to an 18-year low and Bank of America Corp. shares hit a record low on worries the two financial giants may be nationalized. U.S. stock futures advanced Monday. In energy trading, crude oil moved higher, up more than 1% on expectations that the Organization of Petroleum Exporting Countries will cut its production again next month. Gold holdings in SPDR Gold Shares, the largest gold exchange-traded fund, stood at a record level of 1,028.98 tons Friday, unchanged from a day ago, according to latest data from the fund. The total was up more than 220 tons from a month ago. In other metals trading, March copper gained 4.1% to $1.474 a pound, while March silver lost 1.7% to $14.245 an ounce. March palladium dropped 8.5% to $198.20 an ounce, and the April contract for sister metal platinum fell 1% to $1,084.70 an ounce.

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