Gold fell in light holiday trade on Tuesday as technical weakness, options-related selling and a lack of fresh economic news failed to stimulate buying interest in the final week of the year. Selling related to the expiration of US January gold options, which weighed on bullion despite rallies in crude oil, grains and a weaker dollar.
A mixed bag of US consumer confidence and home prices data kept investors on the sidelines. Spot gold fell to a one-week low of $1,588.89 earlier in the session. It was down 0.8 percent at $1,592.80 an ounce by 2:06 PM EST (1906 GMT). US February gold futures settled down $10.50 at $1,595.50. Volume was below 50,000 lots, among the weakest turnover this year but consistent with the year-end trading volume last year. Spot silver fell 1.2 percent to $28.69 an ounce. Among platinum group metals, platinum edged up 0.4 percent at $1,430.24, while palladium gained 0.5 percent to $660.99 an ounce.
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