Gold turns lower, trading below $1,500 an ounce

Gold futures turned lower Monday, trading below the psychologically important $1,500 an ounce as other commodities lost ground and the dollar rose.

Gold for August delivery GC1Q -0.11% declined $2.80, or 0.2%, to $1,498.10 an ounce on the Comex division of the New York Mercantile Exchange. The metal had moved higher for most of electronic trading.

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