Daily Gold Update

Source:Market Watch

SAN FRANCISCO— Gold prices ended lower Tuesday, falling from five-month highs as other commodities and the U.S. stock market plunged and the dollar rose. Gold for June delivery, the most active contract, retreated $14,10, or 1.2%, to $1,169.20 an ounce on the Comex division of the New York Mercantile Exchange. Earlier in the day, prices were at a five-month high and hit an intraday high of $1,192.80 an ounce, according to FactSet Research.

U.S. stocks fell sharply Tuesday as concerns over Greece's bailout package and Europe's national debts weighed on sentiment. Oil futures slid more than 3% on the fears about the euro zone and a report showing a slowdown in China manufacturing. And gold's recent gains made it only too easy to sell the metal. See Full Story