Metals prices mixed in slow trade

Metals prices were mixed Monday in New York.

December gold was $1.30 lower to $676.20 per troy ounce on the possibility that the US dollar will hold its own against the euro.

Some analysts say gold could still rally, however, if the US Federal Reserve cuts interest rates before the end of the year, pulling some support out from under the greenback.

Meanwhile, December silver dropped 17 cents to $11.92 per troy ounce.

October platinum added $5.30 to $1,252.30 per troy ounce.

Among base metals, copper added 1 cent to $3.36 per pound on hopes that demand will grow in the US after last week’s announcement that new home sales were up in July.

Gains early in the day were cut, however, on new data that existing home sales were down in July.

Trade was light on the session due to the fact that the London Metal Exchange was closed for a public holiday in the UK.