Bullion prices ended lower at Comex on Monday, 26 November 2018. Gold prices gave up earlier gains to settle slightly lower on Monday, with strength in global stock markets dulling investment demand for the precious metal.
Gold for December delivery traded on Comex edged down by 80 cents, or less than 0.1%, to settle at $1,222.40 an ounce, after trading as high as $1,228.60. It registered a weekly climb of less than 0.1% on Friday.
December silver also declined by 3.8 cents, or 0.3%, to $14.205 an ounce, after the metal on Friday put in a weekly decline of 0.9%.
European stocks got a boost on Monday on hopes that the Italian government may be able to find some common ground with the European Union over its budget. U.S. stocks also climbed following the worst Thanksgiving-week performance in seven years. Strength in U.S. equities can lure investors away from the perceived safety of precious metals.
The ICE U.S. Dollar Index, was up 0.1% at 97.046 after tapping a low of 96.659.
Meanwhile, traders continued to eye developments in Europe. The European Union has given approval of Britain's divorce from the trading bloc. If the deal is given a green light by Parliament, the U.K. will then be able to focus on negotiations for the new trade and security relations with EU after its official exit in March. U.K. Prime Minister Theresa May, however, is seen facing an uphill battle in winning parliamentary approval.
Investors did not receive any notable economic data on Monday. Looking ahead, investors will receive the Case-Shiller 20-city Index for September, the Conference Board's Consumer Confidence Index for November, and the FHFA Housing Price Index for September on Tuesday.