Daily Gold Update

Source: Marketwatch

New York— Gold futures edged lower Wednesday as a stronger dollar reduced the metal's investment appeal and as data showed holdings in the biggest gold exchange-traded fund fell again. On the Comex division of the New York Mercantile Exchange, the most active December contract settled at $945.80 an ounce, down 20 cents. It fell as low as $941.20 earlier. The less active August contract, which expires Thursday, also ended slightly over at $944.30. Trading has taken place in small ranges this week.

In currencies trading, the U.S. dollar stayed higher against most of its major rivals. The dollar index gained 0.7% to 78.811. Holdings in SPDR Gold Trust, the biggest ETF backed by the metal, fell to 1,061.83 metric tons Tuesday, down 4.58 metric tons. That's the lowest level since March 13. In economic news, orders for new U.S.-made durable goods jumped 4.9% in July, the largest increase in two years, the Commerce Department reported. See full story.