Daily Gold Update

Source: MarketWatch

New York— Gold futures ended Wednesday's trading slightly higher as a cautious outlook from Intel Corp. hurt stocks and offset economic data that showed falling U.S. consumer prices. The consumer prices index dampened inflation worries and reduced the precious metal's appeal as protection against rising prices. But investors also watched the earnings outlook from Intel and gloomy quarterly results from UBS AG, which tend to increase gold's safe-haven appeal. Gold for June delivery rose $1.50, or 0.2%, to end at $893.50 an ounce on the Comex division of the New York Mercantile Exchange. It fell to $886.20 earlier.

Trading remained in a small range Wednesday, with prices unable to break the psychologically important $900 an ounce mark. "Gold is struggling with $900 an ounce," said Burton Schlichter, senior market strategist at Daniels Trading. "As long as it stays under this level, trading is going to remain quiet." See full story.