Daily Gold Update

Source: MarketWatch

New York— Gold futures fell Tuesday in thinly-traded pre-holiday sessions, pacing losses in crude-oil futures as a strengthening dollar reduced the metal's appeal as an investment alternative. Gold for February delivery, the most active contract, ended down $9.10, or 1.1%, at $838.10 an ounce on the Comex division of the New York Mercantile Exchange. The contract traded in a range between $829.80 and $849.80. "Market players geared up for an early departure from work tomorrow," said Jon Nadler, senior analyst at Kitco Bullion Dealers. "Interest in trying to squeeze one more profitable day from an otherwise dismal year ebbed some more."

"Year-end book-squaring may offer only a narrow platform for significant price swings," he added. The nearby December contract, which expires Dec. 29, also moved lower Tuesday to end at $837.20. Open interest, or the number of outstanding contracts for December delivery, stood at 413 as of Tuesday, or 41,300 ounces, according to Comex data. See full story.