Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures finished higher Tuesday after spending the session wavering between gains and losses, as traders mulled the metal�s safe-haven appeal against a backdrop of pressure from a stronger U.S. dollar and upbeat economic data, and support from growing euro-zone concerns. For gold, the trading environment is filled with ingredients that make �quite a soup, and one has to watch the various ingredients all the time,� said Steve Gillette, president of Cirrus Commodities Exchange. For now, �gold support comes from the general safe-haven notion, but waiting for the euro shoe to drop,� he said.

Gold for December delivery rose $3.80, or 0.2%, to settle at $1,782.20 an ounce on the Comex division of the New York Mercantile Exchange. It touched a high of $1,787.80 and a low of $1,707.20 during the session. But prices failed to recoup their losses from Monday, when they fell $9.70, or 0.5%. �Gold is choppy within the recent range as heightened [European Union] contagion risks have bolstered the dollar somewhat,� said Peter Grant, senior metals analyst at USAGold-Centennial Precious Metals Inc. See full story.