MW: Gold edges down as U.S. dollar gains on Europe uncertainty
By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) - Gold prices edged lower on Monday, holding above $1,215 an ounce, as investors tracked the latest worry in the euro zone.
Gold futures for August delivery fell $2.20 to $1,215.50 an ounce on the Comex division of the New York Mercantile Exchange.
On Friday, the contract gained $7.70, or 0.6%, to end at $1,217.70 an ounce, giving the precious metal a 0.3% gain for the holiday-shortened week.
The euro stood just above $1.19 on Monday, and the dollar index (DXY 88.21, -0.02, -0.03%) , which compares the U.S. unit against a basket of six currencies, was up at 88.358.
Hungary's new government is now distancing itself from statements late last week that alarmed investors. A government spokesman had said that the nation faced the same sort of debt trouble that pushed Greece onto shaky financial ground.
