Daily Gold Update

Source: MarketWatch

New York— Gold futures fell slightly Thursday, ending lower for a fourth straight session as a stronger dollar and tumbling crude prices reduced the metals' investment appeal. Gold for February delivery settled down $1.50, or 0.2%, at $807.30 an ounce on the Comex division of the New York Mercantile Exchange. It traded in a range between $801.50 and $822.10 during the session. Gold has lost nearly $50, or 5.6%, in the past four sessions. Thursday's close is the lowest since Dec. 9.

Pushing gold lower, the U.S. dollar rose against the euro after the European Central Bank cut its key interest rate. Meanwhile, crude oil dropped for a second day, reducing gold's appeal as a hedge against inflation. The ECB delivered another rate cut Thursday, dropping its benchmark lending rate by half of a percentage point to 2% in the face of a sharp and worsening recession. The cut matched expectations. See full story.