By Sara Sjolin, MarketWatch
LONDON (MarketWatch) — Gold futures eased down for a third day in a row in electronic trading on Wednesday, as the dollar gained strength on dampened expectations of further policy easing.
Gold futures for December delivery GCZ2 -0.33% lost $4.2, or 0.3%, to $1,598.20 an ounce during European hours.
On Tuesday, the price of the yellow metal dropped to the lowest price in a little over a week, as the dollar inched higher amid lowered expectations of additional monetary easing measures after U.S. retail sales beat market expectations.
A firmer greenback also pushed gold prices lower on Wednesday. The ICE dollar index DXY +0.08% rose to 82.558 from 82.540 reached in late North American trade the prior day.
Dollar-denominated commodities tend to fall on a stronger greenback as they get more expensive for investors holding other currencies.
Other metals also retreated with September silver SIU2 -0.64% off 0.7% to $27.57 an ounce.
Copper for the same month HGU2 -0.42% slipped 0.3% to $3.35 a pound, while palladium for September delivery PAU2 -0.59% fell 0.4% to $576.10 an ounce.
October Platinum PLV2 -0.07% rose a modestly 60 cents to $1,399.70 an ounce.
Sara Sjolin is a MarketWatch reporter, based in London.
