Gold News & Info

Source: Marketwatch

San Francisco— Gold futures retreated Tuesday, pulling back from the previous session�s record close above $1,350 an ounce as the U.S. dollar strengthened and moved off eight-month lows. The dollar�s recent slide, along with an expected further erosion on the heels of potential monetary easing, �has been the single most identifiable catalyst for the feeding frenzy in certain (exchange-traded funds) that are geared toward emerging markets, commodities and precious metals,� said Jon Nadler, senior analyst at Kitco Metals Inc.

�In the case of gold and silver, pretty much the only identifiable factor,� Nadler wrote in a note to clients. Gold for December delivery fell $7.70, or 0.6%, to settle at $1,346.70 an ounce on the Comex division of the New York Mercantile Exchange. The contract ran up to a high of $1,356.30 earlier in the session, after Monday�s close at $1,354.40 an ounce. Gold later rose to $1,352, adding $5.40, or 0.4%, to the settlement price after the release of minutes from the Federal Reserve�s last interest-rate meeting. The minutes showed several members wanted to resume buying government bonds soon, leading investors to believe an additional round of monetary easing is imminent. See full story.