Daily Gold Update

Source: MarketWatch

New York— Gold futures closed modestly lower Tuesday for a second straight session as traders sorted out developments related to the U.S. economy and the financial markets. Gold for December delivery fell by 30 cents to close at $666.20 an ounce on the New York Mercantile Exchange. It traded as high as $669.10 earlier, after losing 30 cents on Monday.

"Gold is standing its ground well after the horrendous financial tsunami that swept through the credit markets last week," said Julian Phillips, an analyst at GoldForecaster.com. See full story.