Gold News & Info

Source: Marketwatch

San Francisco— Gold futures ended a roller-coaster Tuesday with marginal losses, pressured by a rising dollar but insulated from steeper declines as some investors took advantage of recent price dips to add to their holdings. Gold for December delivery settled 30 cents lower to $1,338.60 an ounce on the Comex division of the New York Mercantile Exchange. Other metals settled higher, however, with palladium the star of the day on recently announced, more stringent U.S. government rules concerning emissions for heavy-duty vehicles.

Gold started its floor trading lower, but recouped some losses as the session progressed. Gold had earlier hit an intraday low of $1,328.10 an ounce. �We�re holding on to the levels we need to,� said Charles Nedoss, a senior market strategist with Olympus Futures in Chicago. Prices are safe from steep losses as the longer-term positive prospects for gold are still unchanged, he added. The dollar index, which compares the U.S. unit to a basket of six other currencies, rose 0.7% to 77.55 from 77.02 in late North American trading Monday. The dollar was weaker Monday, hitting a 15-year low against the yen. See full story.