Gold fell on Tuesday after trading above $1,800 an ounce for the first time in seven weeks, as news that Italian Prime Minister Silvio Berlusconi would resign improved the picture for of eurozone investment risk. Spot gold rose 0.7 percent to fetch $1,782.60 at 3:10 pm EST (2010 GMT). It peaked at $1,802.60, the highest price since September 21.
US December gold futures settled up $8.10 at $1,799.20 an ounce. Volume came in below its 30-day norm as some investors appeared to stay on the sidelines, awaiting more clarity from the latest development from the euro zone. On Monday, gold posted its biggest daily gain in two weeks on technical buying. In other precious metals, silver slipped 1 penny to $34.85 an ounce. Platinum rose 0.1 percent to $1,656.99, and palladium rose 1.9 percent to $670.72.
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