Gold down slightly on stronger US equities

Gold futures on the COMEX division of the New York Mercantile Exchange fell slightly on Monday as U.S. equities strengthened.

The most active gold contract for December delivery lost 0.5 U. S. dollar, or 0.04 percent, to settle at 1,310.5 dollars per ounce.

Gold was almost unchanged on Monday with the main benchmarks of U.S. stocks bouncing off their recent lows, as geopolitical tensions in Ukraine and Middle East somewhat eased.

The supporting factor for gold was remarks by Federal Reserve Vice Chairman Stanley Fischer that the global recovery was disappointing. Analysts say his speech suggest interest rates may stay lower for longer.

With no major economic data due Monday, investors are looking ahead to U.S. July retail sales scheduled for release on Wednesday.

Silver for September delivery gained 15.4 cents, or 0.77 percent, to close at 20.095 dollars per ounce. Platinum for October delivery lost 6.7 dollars, or 0.45 percent, to close at 1, 471.6 dollars per ounce.