Gold News & Info

Source: Marketwatch

New York— Gold futures finished slightly lower Wednesday, as a delay in a rescue plan for Greece lifted the dollar, reducing the precious metal's appeal as a hedge. Gold for April delivery ended 90 cents lower at $1,076.30 an ounce on the New York Mercantile Exchange, though that was well above an intraday low of $1,063.10. On Tuesday, gold rallied as talk of a German plan to rescue Greece sent stocks soaring, reducing safe-haven demand for the dollar and lifting commodities.

But the dollar gained some strength Wednesday. The dollar index, which tracks the performance of the greenback against a basket of currencies, rose to 80.04 from 79.768 late in the prior session. A meeting between the German finance minister, Wolfgang Schaeuble, and lawmakers ended Wednesday with no concrete package of Greek aid announced. Expectations remain for a package to be announced Thursday. See full story.