Gold News & Info

Source: Marketwatch

New York— Gold futures rose Thursday, rebounding from their lowest level in two months as a weaker dollar raised gold's investment appeal. But gains were limited as holdings in the biggest gold exchange-traded fund, SPDR Gold Trust /quotes/comstock/13*!gld/quotes/nls/gld (GLD 89.50, +0.23, +0.26%) , dropped more than 10 metric tons Wednesday, according to the latest data. August futures gained $6.90, or 0.8%, to end at $916.20 an ounce on the Comex division of the New York Mercantile Exchange. Gold ended at $909.30 Wednesday, the lowest settlement for a front-month contract since May 5.

"Gold has traded higher on a softer dollar," said James Moore, an analyst at TheBullionDesk.com. Holdings in the SPDR Gold Trust fell to 1,109.80 metric tons Wednesday, down 10.38 metric tons from the previous session, data from the fund showed. Net outflows in the fund have reached more than 20 metric tons since the beginning of June. At the end of the first quarter, hedge-fund manager John Paulson, who gained notoriety with his well-timed bets against the housing market, became the biggest holder of SPDR Gold. See full story.