Gold News & Info

Source: MarketWatch

San Francisco— Gold futures closed lower Wednesday, giving back almost half of their two-session gain of $7 an ounce, pressured by a steep drop in oil prices and some strength in the U.S. dollar as the U.S. stock market struggled to shake off weakness.

"Bullion remains unable to shake off the same credit problem-driven apprehensions that are undermining the global equity markets … of late," said Jon Nadler, an analyst at Kitco Bullion Dealers, in a note to clients. "This is now a global slide that could become quite a mess, and gold is unfortunately suffering from a 'guilt-by-association' syndrome with risky assets." MarketWatch