Daily Gold Update

Source: Marketwatch

New York— Gold futures ended sharply lower Monday, coming under heavy selling pressure as the dollar traded higher against most of its major rivals and crude-oil prices posted a steep decline. Gold for December delivery closed down $8.40 at $760 an ounce on the New York Mercantile Exchange. The metal recovered slightly from an intraday low of $751.

"Gold has given up its gains of recent days in a sharp sell-off," said Mark O'Byrne of Gold and Silver Investments Ltd in emailed comments. "Given the size and speed of the recent run-up in the gold price, a correction was to be expected." See full story.