MW:Gold, oil futures sharply lower in Europe trading
By Barbara Kollmeyer
MADRID (MarketWatch) -- Oil and gold prices pushed sharply lower in European trading hours on Monday, tracking losses for riskier assets such as equities and as the dollar climbed. Weighing, the World Bank cut its forecast for China growth to 7.7% from its May estimate of 8.2% and there are also concerns Friday's strong U.S. jobs report will reduce the need for further quantitative easing. Oil for November delivery CLX2 -1.16% fell $1.44, or 1.6%, to $88.43 a barrel, while brent crude for November delivery dropped $1.28, or 1.1%, to $110.73 a barrel. Gold and other metals also fell. Gold for December delivery GCZ2 -0.47% dropped $10.20, or 0.6%, to $1,770.60 an ounce. Silver for December deliver SIZ2 -1.71% dropped 65 cents, or 1.9%, to $33.92 an ounce. Platinum PLF3 -1.12% for January delivery tumbled $22.20, or 1.3%, to $1,685 an ounce.
