Gold Futures Slip; Dollar Is Mixed

Benchmark bullion futures are down $6.10 at $879.70 an ounce.
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Gold prices slipped Monday as the greenback strengthened and speculators trimmed their holdings.

Benchmark bullion futures were down $6.10 at $879.70 an ounce in recent action on the Comex division of the New York Mercantile Exchange. Over time, as the value of the dollar appreciates, the price of gold tends to decline.

The

streetTracks Gold Shares

(GLD) - Get Report

was falling 0.6%.

"This morning, profit-taking has seen prices soften across the board," writes the London-based commodities team at Barclays Capital in a research brief. "Speculative interest was scaled back in gold and silver

with net long positions now at their lowest level since September 2007."

In the gold patch, shares of

Kinross Gold

(KGC) - Get Report

were lower by about 1.9%, weighed down by the falling metal price.

Yamana Gold

(AUY) - Get Report

was losing 2.1%.

In the foreign-exchange market, one euro was buying $1.5447, down from $1.5476 on Friday. The dollar was changing hands for 103.80 Japanese yen, up from 102.94 yen previously. The British pound was selling for $1.9582 vs. $1.9517 in the prior session.

The

CurrencyShares Euro Trust

(FXE) - Get Report

and the

CurrencyShares Japanese Yen Trust

(FXY) - Get Report

were declining 0.2% and 0.7%, respectively. The

CurrencyShares British Pound Sterling

(FXB) - Get Report

was rising 0.4%.