Gold Comoodities Prices Fall almost one percent

Gold prices fell nearly one percent, the commodities prices weighed down by a rebound in U.S. dollars, after Federal Reserve Chairman Bernanke on Friday gave some details of the the much-anticipated easing move is weighed by the central bank.

The dollar rose about half a percent against a basket of currency on Monday, after rising from a 10-month low late last Weekly technical indicators pointed to the possibility of a further related short rebound. [USD /]. ?Before today, gold prices will continue to slip a bit, and the lungs to liquidate their positions. On Friday gold prices today performance below expectations due to profit taking as investors think the gold rally may get beaten up after he reaches record prices recently, ?said Ong Yi Ling, an analyst at Phillip Futures.

* Gold seen stabilize around current levels
* Gold may go back to $ 1.340 / oz-technicals
* Coming up: U.S. industrial production in September, 1315 GMT

?But as long as gold is able to stay above $ 1,350 level, I will look at a bullish bias on gold. ? Bernanke on Friday gave his most explicit signal yet that the U.S. central bank was set to ease monetary policy further but gave no details.

XAU = Gold fell $ 12.55 to $ 1,357.95 an ounce by 0317 GMT, extending losses from the previous session. ?Prices fell sharply this morning as the dollar strengthened. But we have seen a good buy around $ 1,356 to $ 1,356.5 levels. Now the price stabilizes around this level, ?said a Singapore-based trader, adding that there was strong support in the range of $ 1350-1352 dollars.

?And if the dollar is not much to do, could gold consolidate around current levels. ? U.S. gold futures for December delivery fell a GCZ0 percent to $ 1,359.2 an ounce. A bullish target of $ 1,404 per ounce spot gold XAU = temporarily broken because the retracement can continue the price down to $ 1,340 per ounce drive, said Wang Tao, an
Reuters analyst.

Investors are eyeing U.S. industrial production data due later on Monday for clues to the timing and extent of Federal Reserve debt purchase program.

Spot silver XAG = fell as much 2.3 percent to $ 23.69 a ounce, before recovering to $ 23.80. Silver hit a 30-year high $ 24.90 on Thursday.

Companies in the iShares Silver Trust (SLV) rose to a new high of 10,224.05 tonnes 10,163.20 tonnes from October 15 to October 14. iShares? companies had reached record levels for three consecutive sessions, showing increasing interest in silver, a cheaper alternative to gold.

Bullion investors rightly impressed by Silver?s outperformance of gold this year, but they would do well to advised to be wary of seeing the precious metal as a mere Proxy cheaper, analysts said.

Spot palladium XPD = fell 1.3 percent to $ 577.50 an ounce, from nine years at a high $ 603.50 hit in the previous session.