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.
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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.