NEW YORK, Nov 6: A rallying dollar promoted liquidation of COMEX gold futures on Monday, even as financial markets predicted another dose of Federal Reserve interest rate stimulus on Tuesday.

December gold ended down $1.30 at $279.50 an ounce, trading between $280.80 and $278.50. Estimated volume was a very quiet 8,000 contracts.

Spot bullion was indicated late at $278.70/9.20, down from $279.70/0.20 at Friday’s close. The afternoon fix in London was $278.25.

Spot bullion was quoted $4.10/13, perched on its early August lows at $4.11, a break of which would put spot at prices not seen since 1993. It closed Friday at $4.13/15 and was fixed Monday at $4.125.—Reuters