Daily Gold Update

Source: MarketWatch

New York— Gold futures erased earlier gains Wednesday, falling slightly as rising crude oil and U.S. stocks increased investors' risk appetite and reduced the metal's investment appeal. Limiting gold's losses, the U.S. dollar fell against most of its major rivals. Gold for April delivery, the most active contract, fell $1.90, or 0.2%, to $911.70 an ounce on the Comex division of the New York Mercantile Exchange.

Gold has fallen 9% in the past seven sessions after the metal topped $1,000 an ounce on Feb. 20. "Gold was a bit overbought in the near term and was due for a pullback," said Zachary Oxman, senior trader at Wisdom Financial. "I'd watch for big buying around the $905 to $910 level," he said, adding that prices could rise above $1,000 again. See full story.