Gold futures closed down on Thursday after struggling between small gains and losses, as investors welcomed news that German lawmakers chose to increase the size and flexibility of the European rescue fund.Gold for December delivery fell 80 cents, or 0.1%, at $ 1,617.30 on the Comex division of the New York Mercantile Exchange. Gold among traded lower than $ 1.585 and higher than $ 1,637.90.
"One of gold short-term problem is the reduced inflationary expectations and higher yields than stocks," said Richard Hastings strategic macro in the Global Hunter Securities.
Contract in December silver rose 39 cents, or 1.3%, to $ 30,522 per ounce, after falling 4.5% in the previous season. Copper for December delivery closed at a price that is almost flat, at $ 3,246 per pound, after falling 5.6% in the previous season. Slow the development of China, the number of buyers of copper, making copper prices declined this month, according to analysts.
"China is a market-moving wheels of copper," said Frank Lesh, broker and futures analyst at Future Path Trading. "If they buy, we go up, and if they do not buy, we go down, and now, they do not buy."
Meanwhile, October platinum fell $ 5.90, or 0.4%, to $ 1,528.30 an ounce. December palladium declined $ 11.15, or 1.8%, to $ 623.60 an ounce.
Movement in the metal as the dollar is losing the fight against major currencies, including Euro rise by 0.8% to $ 1.3648, after policy makers in Germany chose to raise the European Financial Stability Facility-Eurozone rescue fund.
Dow Jones Industrial Average rose 21 points, or 0.2%, to 11,032. Dollar index fell to 77.65 from 77,995 on Wednesday.
And also on Thursday, penginspeksi team from the European Commission, European Central Bank and the International Monetary Fund will return to Athens in order to assess whether Greece will accept the next round of international aid funds.
Analysts from Deutsche Bank said on Thursday that, in terms of precious metals, they believe that gold will become the main reference in an unstable macroeconomic environment.
In particular, Deutsche Bank noted that the fading demand for physical gold trading exchange-traded fund is a sign of a possibility "that the desire of investors to gold might be reaching saturation point."