Dollar firms vs euro; ECB seen cutting rates by 50 bp… Oil slides as demand woes outweigh U.S. stockpile dip… ZKB platinum ETF holdings rise 27 pct

Dollar firms vs euro ahead of expected ECB rate cut… Traders eye U.S. data, central bank rate cuts for impetus… U.S. November car sales tumble 37 pct

Dollar weakens against euro as U.S. equities gain… Oil recovers from 3-1/2 year low … Traders look to U.S. auto sales figures to guide platinum

Gold fell nearly 3 percent on Monday as oil prices slipped more than $2 a barrel after OPEC’s decision to leave production unchanged at a meeting at the weekend, and as the dollar firmed against the euro.

Gold eases in quiet trade, traders eye next week’s data… Gold set for biggest gain since 1999 on safe haven buying

Why housebuilders are demanding state hand-outs… More hilarity in the housing industry this weekend. Builders are now demanding state help. As housing sales have collapsed, the construction industry faces mass redundancies, while house builders themselves have seen their share prices dive.

A strengthening dollar and a drop in oil prices caused spot gold prices to fall more than 2% today – its lowest level in a week, according to Thomson Reuters.

Dan Denning in The Daily Reckoning Australia doesn’t think this is a cause for concern: “After regrouping, shaking out the weak hands, and giving the dollar its due, gold is on the march again.

Just when I thought the worst was behind us, it wasn’t. The selling started about 3:00 a.m. New York time on the Globex. I’m not sure why this particular time is sometimes their favourite time for selling off the precious metals, but it has been in the past.

Gold prices climbed higher in early London trade as the dollar remained under pressure following weak U.S. payrolls data on Friday, reports Thomson Financial.

Friday’s grim jobs news has put further downward pressure on the already weak dollar, by reinforcing the widely-held view that the US economy is in a downturn.

At 9:27 am., spot gold was trading at $914.78 an ounce against $909.80 in late New York trades on Friday, according to Thomson.