Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures ended lower Wednesday, as most commodities got the cold shoulder from investors and no new catalysts pushed them into gold. Gold for December delivery declined $3.60, or 0.2%, to $1,826.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold rose 0.9% the previous session, as an early-week dip of nearly 2.5% enticed bargain hunters back to the market.

Commodities in general suffered from lack of interest from investors, said Darin Newsom, a senior analyst at Telvent DTN in Omaha, Neb. �There�s no fresh news to drive things in one direction or the other,� Newsom said. Regarding Greece, ��Go ahead and default already� seems to be the mindset.� In addition, market participants are likely reluctant, �to enter large bets in gold before Thursday�s [consumer inflation] numbers on both sides of the Atlantic,� and, more importantly, ahead of the Federal Open Market Committee�s two-day meeting next week, analysts at VTB Capital said in a note to clients Wednesday. See full story.