Gold News & Info

Source: Marketwatch

San Francisco— Gold futures ended lower Wednesday, engulfed by concerns surrounding Germany�s failed bond auction and unable to catch safe-haven bids. Gold for December delivery declined $6.50, or 0.4%, to settle at $1,695.90 an ounce on the New York Mercantile Exchange, off session lows. Other metals tracked gold lower, with silver the top loser, off 3.2%. Investors have fled to cash, and the data in the U.S. didn�t help matters. In addition, on the eve of the Thanksgiving holiday in the U.S., �it is likely that buyers will wait until next week� before they think to get back to gold, said George Gero, a vice president at RBC Wealth Management, in e-mailed comments.

Gold has tracked stocks and other commodities lately, unable to generate much safe-haven buying interest as investors have parked their money in cash amid the global turmoil or else fled to the dollar or to U.S. bonds. Silver for December delivery declined $1.07, or 3.2%, to end at $31.88 an ounce. Adding to pressure for metals, the dollar traded higher on Wednesday. The dollar index, which compares the U.S. unit to a basket of six currencies, rose to 79.134 from 78.252 late Tuesday. See full story.