Precious metals fluctuated in value Monday as gold ended three straight sessions of losses, Bloomberg reports.
Just before 12:30 p.m., gold futures increased 0.28 percent, a $3.70 increase to $1,344.70 per troy ounce. By contrast, silver futures dipped 0.66 percent, a 0.182 decrease to $27.245 per troy ounce. January-delivery platinum futures also slipped $1.80 to $1,817 per troy ounce while March-delivery palladium futures dropped 0.55 cents to $816.20 per troy ounce.
"Serious thought is being given to whether the gold market has peaked or if it is simply making a short-term correction," investor Tom Pawlicki of MF Global Holdings in Chicago, Illinois told the news service.
Prior to Monday, the value of gold slipped 5.7 percent in January, notching its lowest value since mid-November on January 21 when striking $1,337 per troy ounce.
On Monday, investors acted quickly to purchase gold at its lowest price in two months.
"We're seeing very strong physical demand all over the world," Bernard Sin, the head of currency and metal trading at bullion refiner MKS Finance SAS in Geneva, told Bloomberg. "On any dips from here, a lot of people will be happy to go long. There’s still a lot of uncertainty in the euro zone."
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