Daily Gold Update

Source: Marketwatch

New York— Gold futures ended Tuesday's volatile trading slightly higher, as investors returned to the metal as a safe asset amid a sharp sell-off in stocks and other commodities. Copper erased earlier gains and ended lower. On the Comex division of the New York Mercantile Exchange, December gold futures gained $3, or 0.3%, to end at $956.50 an ounce. It rose as high as $958 earlier but also fell to $947.50. On Wall Street, stocks were solidly lower as the financial sector bore the brunt of bearish analyst comments and investors' concerns about a market correction that could last well into fall.

Most commodities moved lower Tuesday, pacing losses in stock markets. Crude oil fell more than 2%, building on a nearly 4% drop in the previous session. In currencies, the dollar index, which measures the U.S. unit against a basket of six major currencies, stood at 78.844, up from 78.242 late Monday. See full story.