Gold falls as Russia-West concern eases GOLD prices have ended lower as a stronger US dollar edges out investors' worries about tensions between Russia and the West. GOLD for December delivery, the most-actively traded contract, on Monday slipped 0.2 per cent to $US1,183.50 a troy ounce on the Comex division of the New York Mercantile Exchange, after hitting a two-week high of $US1,993.60 earlier in the session. The US dollar gained after Japan reported its economy shrank for a second quarter in a row, as a sales-tax increase earlier in the year continued to weigh on growth. The weaker data bolstered expectations that the Bank of Japan would need to continue stimulating the economy for a considerable time, a policy that has helped the US dollar strengthen against the yen. Gold, which is priced in dollars, becomes more expensive to foreign investors as the greenback rises. At the same time, the metal found support from tensions between Russia and the West, which flared over the weekend after Russian President Vladimir Putin left the meeting of the Group of 20 industrial and developing nations early amid a frosty reception from some world leaders. Moscow has been under fire from the US and Europe for its support for rebels in Ukraine's eastern regions. Still, some market watchers said expectations of rising interest rates in the US and a stronger greenback would keep gold prices subdued. "We believe gold faces headwinds," analysts at Barclays said in a note to clients, recommending investors use any rallies in the gold price to bet against the metal. One potential support for gold prices is a Swiss referendum set for November 30, in which voters will decide whether the Swiss National Bank should hold one-fifth of its $US500 billion ($A540.98 billion) reserves in gold, the Barclays analysts said. Deutsche Bank analysts said the latest polling shows the "yes" campaign with a "narrow but clear lead." Settlements (ranges include open-outcry and electronic trading): London PM Gold Fix: $US1,182.50; previous PM $US1,169.00 Dec gold $US1,183.50, down $US2.10; Range $US1,180.80-$US1,193.60 Dec silver $US16.057, down 25.7 cents; Range $US16.015-$US16.455 Jan platinum $US1,201.30, down $US11.80; Range $US1,197.50-$US1,214.80