Gold News & Info

Source:Marketwatch

New York— Gold futures fell more than 1% Thursday, as a rise in the U.S. dollar dampened investment demand for the precious metal. Gold for June delivery dropped $14.20, or 1.6%, to settle at $850.90 an ounce on the New York Mercantile Exchange. Gold had finished Wednesday's regular trading session sharply lower, ending down $11.70 at $865.10. However, in electronic trading, gold rallied, boosted by the Federal Reserve's decision to cut the fed funds rate by 25 basis points to 2.0%.

"Despite the lack of a clear pause signal in yesterday's Fed announcement, the markets are treating May/June as the pivot point beyond which they can no longer reliably depend on ever cheaper dollars to fuel speculative binges in commodities," said Jon Nadler, senior analyst at Kitco Bullion Dealers. See full story.