NEW YORK, Jan. 28 (UPI) -- Gold prices moved lower on the Comex division of the New York Mercantile Exchange Monday with equities mixed on Wall Street.
Analysts said the equity market is due for a correction after four weeks of gains. Gold may be poised to absorb some of the pull back, as gold is net negative in price for 2013.
NYMEX gold began the year at $1,688.80 per troy ounce. On Monday, gold closed at $1,657.10 per ounce, off 80 cents from Friday.
Against the dollar, the euro fell to $1.3448 from Friday's $1.3466. The dollar fell to 90.66 yen from Friday's 91.03 yen.
From Friday, NYMEX silver shed 27 cents to $30.91 per ounce.