Daily Gold Update

Source: Marketwatch

New York— Gold futures finished below $800 an ounce on Thursday, as gains in the U.S. dollar squeezed demand for the precious metal. Gold for December delivery fell $5 to finish at $795.30 an ounce on the New York Mercantile Exchange.

"Both oil and the dollar will remain key facts for gold's direction in the coming sessions," said James Moore, an analyst at TheBullionDesk.com, in a research note. Further long liquidation can be expected in the coming sessions, as the end of the month and the year approach, Moore said. "However, the backdrop of dollar weakness, high energy costs and worries about the credit sector are still favorable for gold and will continue to draw investment demand into the market," he said. See full story.