Gold News & Info

Source: Marketwatch

New York— Gold futures tumbled $27 Thursday, a sharp reversal from the prior session's strong gains, amid a rising dollar and fresh credit-related troubles. "A sell-off in crude oil, a slight rally in the U.S. dollar, and continued profit-taking from gold's prolific move over the past 30 days seem to be the main drivers behind this decline in gold today," said Emanuel Balarie, chief executive officer of Jabez Capital Management.

Gold for December delivery ended down $27.40, or 3.4%, to $787.30 an ounce on the New York Mercantile Exchange. It touched an intraday low of $784 an ounce, the lowest since Oct. 31. Other metals also closed down. On Wednesday, gold futures rallied $15.70. See full story.