Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures came off session lows but ended lower Wednesday as investors remained skittish about adding gold and other investments considered riskier to their portfolios. The metal for December delivery retreated $7.90, or 0.4%, to settle at $1,774.30 an ounce on the Comex division of the New York Mercantile Exchange. Gold steadied itself, however, after the dollar lost ground against the euro and U.S. stocks erased losses. Gold settled nearly flat on Tuesday, ticking 0.2% higher.

Volumes are low as U.S. traders gear up for the weekend and the Thanksgiving holiday next week, said Matt Zeman, senior market strategist with Kingsview Financial in Chicago. Crude hitting new months-long highs also helped gold, as it called more attention to commodities in general, he added. �Any selling in gold is likely to be shallow,� Zeman said. There�s still a great deal of concern for Europe and gold could decouple from U.S. equities and retake its role as a safe-haven investment. See full story.