Comex gold declined $28, or 1.8%, to settle at $1,550.40/oz. as the European summit begins with...

|By:, SA News Editor

Comex gold declined $28, or 1.8%, to settle at $1,550.40/oz. as the European summit begins with little hope of progress and a higher dollar keeps gold and other commodities under pressure. Also, decreased physical demand from countries such as India is hurting demand for gold. Miners take a beating: GG -5.1%, AUY -3.1%, KGC -6.2%, AEM -4.6%, NGD -3.1%.