Gold continues to drop as dollar gains

 　　CHICAGO, Dec. 29 (Xinhua) -- Gold futures¹ on the COMEX Division of the New York Mercantile Exchange slipped for the sixth consecutive² session on Thursday, as the dollar's rally muted demand for precious metals as an alternative investment.

　　The most active gold contract for February delivery lost 23.2 dollars, or 1.5 percent, to 1,540.9 dollars per ounce.

　　Italy raised a total of 7 billion euros in four separate auctions³ after a successful short-term debt sale on Wednesday. The Treasury⁴ had planned to sell between 5 billion and 8.5 billion euros of bonds.

　　The euro sank to its lowest level against the dollar since September 2010 on Thursday after Italy's final bond auctions of 2011 disappointed some market participants.

　　Market analysts⁵ have attributed gold's recent weakness to a renewed rush for dollar liquidity⁶, as a stronger dollar makes gold less attractive to holders⁷ of other currencies.

　　"Despite higher crude oil and silver prices, gold continued to drop as investors⁸ continue to liquidate⁹ their gold positions in favor of the stronger U.S dollar," a trader said.

　　Gold price, which lost 12 percent so far in December, is still up by more than 8 percent in 2011 through Thursday's settlement. As a result, the year-end profit-taking from fund managers drives gold below key technical levels, prompting a mad rush for the exits by speculators.

　　Silver for March delivery recovered 8.1 cents, or 0.3 percent, to 27.315 dollars per ounce. Platinum¹⁰ for April delivery trimmed 25.6 dollars, or 1.8 percent, to 1,366.8 dollars per ounce.

1 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

2 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

3 auctions   

n.拍卖，拍卖方式( auction的名词复数 )

参考例句：

• They picked up most of the furniture at auctions in country towns. 他们大部分的家具都是在乡村镇上的拍卖处买的。 来自辞典例句
• Our dealers didn't want these cars, so we had to dump them at auctions. 我们的承销商都不要这些车子，因此我们只好贱价拍卖。 来自辞典例句

4 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

5 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

6 liquidity   

n.流动性，偿债能力，流动资产

参考例句：

• The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
• The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。

7 holders   

支持物( holder的名词复数 )； 持有者； （支票等）持有人； 支托（或握持）…之物

参考例句：

• Slaves were mercilessly ground down by slave holders. 奴隶受奴隶主的残酷压迫。
• It is recognition of compassion's part that leads the up-holders of capital punishment to accuse the abolitionists of sentimentality in being more sorry for the murderer than for his victim. 正是对怜悯的作用有了认识，才使得死刑的提倡者指控主张废除死刑的人感情用事，同情谋杀犯胜过同情受害者。

8 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

9 liquidate   

v.偿付，清算，扫除；整理，破产

参考例句：

• A unanimous vote was taken to liquidate the company.全体投票一致通过停业清理公司。
• They have not hesitated in the past to liquidate their rivals.过去他们曾毫不犹豫地铲除对手。

10 platinum   

n.白金

参考例句：

• I'll give her a platinum ring.我打算送给她一枚白金戒指。
• Platinum exceeds gold in value.白金的价值高于黄金。