Gold finishes lower, surrendering prior session’s gains

San Francisco (Nov 12)  Gold closed lower on Wednesday, giving up gains from the previous session, as the precious metal is expected to face more selling pressure in the coming days.

Gold prices GCZ4, -0.46%  slid $3.90 to settle at $1,159.10 an ounce. December silver SIZ4, -0.37%  eased 6 cents at $15.62 an ounce.

The U.S. dollar index DXY, +0.27%  moved higher, increasing the pressure on gold.

Last Thursday, gold settled at $1,142.60, its lowest level of the year. Prices approached that level again on Tuesday, but managed to finish in green territory by session’s end.

In other metals action, January platinum PLF5, -0.49%  lost $1.40 to $1,205.30 an ounce, while December palladium PAZ4, +0.14%  rose 95 cents to $773.65 an ounce. High-grade copper for December delivery HGZ4, -0.25%  edged down a penny to $3.03 a pound.

Source: MarketWatch