Gold rises slightly Monday

Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly but remained below the psychological level of 1,700 U.S. dollars per ounce Monda The most active gold contract for February delivery rose 1.2 dollars, or 0.07 percent, to settle at 1,698.2 dollars per ounce. Gold started the week weak and was only boosted a little by the disappointing manufacturing activity report in New York, when early December Empire State index released Monday fell to negative 8.1, a drop from the negative 5.2 seen in November. Thus the index has been in negative territory for the fifth month in a row. Readings below zero indicate activity is declining. As this trading year is drawing to an end, many investors have suspended trading. Meanwhile, investors are also waiting for the results of the fiscal cliff talks in Washington. Gold fell 0.5 percent last week, with the biggest decline reported on Thursday, when gold prices plummeted 21.1 dollars or 1. 2 percent. Silver for March delivery slipped 1.9 cents, or 0.06 percent, to close at 32.28 dollars per ounce. Platinum for January delivery dropped 6 dollars, or 0.37 percent, to close at 1,608.5 dollars per ounce.