Gold News & Info

Source: MarketWatch

San Francisco— Gold futures dropped $11 an ounce Tuesday to close at their weakest level in three sessions as a rally in the dollar against other global currencies dulled investment demand for the precious metal. Federal Reserve Chairman Ben Bernanke signaled in a earlier speech his discomfort with the weak dollar's ramifications for the U.S. economy. See Fed story.

"The proximal cause of today's drop in gold was … Bernanke's comments regarding commodities and the dollar," said Brien Lundin, editor of Gold Newsletter. "The fact that he broke ranks with tradition and addressed the status of the dollar — which is the Treasury Secretary's bailiwick — was remarkable enough to send a shudder through the gold and currency markets," he said in emailed comments. See full story.