By Polya Lesova, MarketWatch
NEW YORK (MarketWatch) — Gold and silver futures fell on Monday, with both metals looking to end the year with losses of 29% and 36%, respectively.
Gold for February delivery GCG4 -0.78% dropped $9.80, or 0.8%, to $1,204.30 an ounce on the New York Mercantile Exchange.
March silver futures SIH4 -2.14% fell 40 cents, or 2%, to $19.65 an ounce.
It has been a brutal year for gold, with the metal down 29% since Jan. 1, according to FactSet data. Silver has declined even more, dropping 36% since the start of the year.
Expectations that the Federal Reserve would scale back its bond-buying program helped sink gold earlier this year, while a strong run by equities contributed to flows out of gold.
Trading is likely to be thin on Monday, with many investors still on holiday. The only major economic data will come at 10 a.m. Eastern when pending home sales will be released.
In other metals trade on Monday, January platinum futures PLF4 -1.07% dropped $14.90, or 1.1%, to $1,361.10 an ounce and March palladium PAH4 +0.30% declined 95 cents to $711 an ounce. March copper futures HGH4 -0.27% slipped 1 cent to $3.38 a pound.
