Gold News & Info

Source: Marketwatch

New York— Gold futures reversed early sharp losses to close slightly lower on Tuesday, as dollar weakness prompted a rebound in gold prices. Gold for December delivery finished down 50 cents at $738.80 an ounce on the New York Mercantile Exchange. Gold earlier hit an intraday low of $729.20, prompted by a bout of profit-taking.

James Moore, metals analyst at TheBullionDesk.com, said that there may be further consolidation in gold prices over the next few days. "However, given the current economic climate, investors are likely to view any dips as good buying opportunities, as reflected by the fresh record holding in the StreetTRACKS ETF yesterday of 578.03 tons," Moore said in a research note. See full story.