Daily Gold Update

Source: MarketWatch

New York— Gold futures ended below $900 an ounce Tuesday, as a rally on Wall Street reduced the precious metal's appeal as a safe haven. Gold for April delivery dropped $22.10, or 2.3%, to end at $895.90 an ounce on the New York Mercantile Exchange. Earlier, the benchmark contract hit an intraday low of $893.50 an ounce. Gold futures have fallen $46.80, or 5%, over the past two sessions.

"Gold is under pressure as money flows back into the broader market," said Kevin Kerr, editor of Global Commodities Alert. "Dollar weakness is strong, too," Kerr said. "It seems that for the moment the inflation fears and systemic risk fears are starting to diminish and investors who have access to funds are starting to see opportunities in the other commodities as well as equities." See full story.