US gold prices fall for 3rd day

The price for an ounce of gold slipped Monday, losing $2.60 to settle at $1,646.30 on the Comex division of the New York Mercantile Exchange. It was the third consecutive day gold prices fell with precious metals in a correction pattern prompted by the tax code signed into law last week. The tax code gave equities a boost, erasing some of gold's appeal as a safety net. Silver on Monday moved slightly higher, adding 14 cents or 0.45 percent, to $30.08, helped by a weaker dollar. The dollar index, which measures the U.S. dollar against six other major currencies on a pro-rated scale, dropped 0.45 percent to 80.14. By close of trading, the euro rose to $1.312 from Friday's $1.3117. The dollar was 87.54 yen from Friday's mark of 87.79 yen.