Daily Gold Update

Source: Marketwatch

New York— Gold futures closed lower Wednesday, as a rebound in the dollar and falling crude-oil prices squeezed demand for the precious metal. Gold for December delivery dropped $3.30 to end at $735.50 an ounce on the New York Mercantile Exchange. Earlier, gold hit an intraday high of $744.20.

"For now it seems that gold is more comfortable consolidating rather than pushing to fresh highs," said James Moore, metals analyst at TheBullionDesk.com, in a research note. "Traders will continue to monitor both oil and the dollar, with further signs of dollar weakness likely to be positive for gold," Moore said. See full story.