EW YORK (TheStreet) -- New York spot gold prices lost some steam Monday afternoon as Goldman Sachs(GS) and Goldman Sachs-related concerns continue to put pressure on commodities, while lifting the dollar.
Spot gold prices fell $1.60, or about 0.1%, to $1,135.20 an ounce at the end of Monday's trading session.
On Monday, Kitco analyst Jon Nadler noted that "...the US dollar surged to 81.25 on the index on the perception that commodities as an asset class will take a notable hit in demand by virtue of the advent of regulation that is likely to follow the Goldman debacle.... Support in gold will hopefully become manifest around $1,117.00 but the risk of a sub-$1,100 dip has once again risen substantially following the 'Goldman Commodity Slide.'"
