Gold prices fell on Thursday, as technical selling and nagging worries about euro zone debt extinguished a rally that began after Greece agreed to fiscal austerity measures. Losses accelerated after bullion failed to breach 1,750 an ounce, its early December highs and an area of technical resistance in each of the last three sessions.
Spot gold was down 0.3 percent at $1,728.84 an ounce by 2:31 pm (1931 GMT). US gold futures for April delivery settled up $9.90 an ounce at $1,741.20 before losses gained pace.
Volume was about 20 percent below its 30-day average but in line with its recent trading pace. Among other precious metals, silver fell 0.4 percent at $33.84 an ounce. Silver has been one of this year's best-performing commodities, up more than 20 percent this year. Spot platinum eased 0.4 percent at $1,654.49 an ounce, while spot palladium was down 0.4 percent at $707.47 an ounce. Platinum has narrowed its unusual discount to gold to about $80 an ounce, from over $200 earlier this year.
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