Gold News & Info

Source: Marketwatch

New York— Gold futures ended more than 1% lower Wednesday, as investors seemed ready to embrace riskier bets following a reported surge in Chinese exports. Some gold investors also chose to book profits a day after bullion closed at a record in New York. August gold closed at a record $1,245.60 Tuesday, amid fears about the global economy slipping back into recession

A stronger euro also dented some of gold's appeal, Sin said. The dollar index /quotes/comstock/11j!i:dxy0 (DXY 87.92, -0.47, -0.53%) , which tracks the greenback against a basket of six currencies, was 0.7% lower at 87.80. Still, fears of a euro-zone debt debacle are vivid enough to keep gold prices "well supported," at least in the short-term, Klopfenstein said. There's still continued physical interest from India, a top gold buyer, and other Asian countries, which bodes well for gold, "still the better safe-haven alternative," MKS Finance's Sin said. See full story.