Daily Gold Update

Source: Marketwatch

New York— Gold futures moved modestly lower Thursday, ending a three-day winning streak, as worries about weakening investment demand offset a falling dollar, which tends to push up dollar-denominated gold prices. Holdings in the SPDR Gold Trust, the biggest gold exchange-traded fund, haven't seen an increase in more than six weeks. Buying positions held by investors in gold futures fell last week for a fifth week.

August gold futures traded on the Comex division of the New York Mercantile Exchange fell $4, or 0.4%, to end at $935.40 an ounce. Gold rose 3% in the past three sessions as the dollar weakened, ending at a two-month high Wednesday. "While the rebound over the past few days has been encouraging, we still remain slightly skeptical in the short term as to gold's ability to clear and hold above $950," said James Moore, an analyst at TheBullionDesk.com, adding that physical and ETF investment stayed weak. See full story.