Daily Gold Update

Source: Marketwatch

New York— Gold futures pared most of their losses to end virtually unchanged on Thursday, as a rebound in the U.S. dollar put some pressure on the precious metal. Gold for April delivery finished down 40 cents to $948.80 an ounce on the New York Mercantile Exchange. On Wednesday, gold futures gained $14.20, or 1.5%, to settle at $949.20 an ounce.

"I'd expect gold to rally back up to the high 900's or low 1,000's within the next month or two," said Zachary Oxman, a senior trader at Wisdom Financial. "Fundamentally, the market is in the same place we were before the $90 sell-off in gold, and with the economy in a recession, as evidenced by the poor data today, I'd look for the flight to move back to gold," Oxman said. See full story.