Daily Gold Update

Source: Marketwatch

New York— Gold futures finished a volatile session with gains Wednesday against a backdrop of mixed trading in the dollar and rallying crude-oil prices. Gold for December delivery finished up $2.50 at $765.60 an ounce on the New York Mercantile Exchange. Gold spent most of the morning trading down, but rebounded later in the session.

"The yellow metal recovered when news of an 8% slump in existing home sales resulted in the overcoming of margin call liquidation fears by the rising conviction that the Fed will indeed cut rates — and aggressively again — when it meets next week," said Jon Nadler, a senior analyst at Kitco Bullion Dealers, in a research note. See full story.