Daily Gold Update

Source: MarketWatch

New York— Gold futures rose Tuesday, bouncing back from sharp losses sustained over the previous three sessions, with investors growing nervous as corporations' quarterly financial results and outlooks are about to start pouring in. Gold for April delivery rose $10.70, or 1.2%, to end at $882.20 an ounce on the Comex division of the New York Mercantile Exchange. The front-month contract had lost 6% in the previous three sessions to wipe out gold's yearly gains. Despite Tuesday's gain, gold's still down slightly for the year.

"Bargain hunters are lifting gold prices," said James Moore, analyst at TheBullionDesk.com. "However the metal is still at risk to further pressure short term and could look to challenge the $845 to $850 area." In spot trading, the benchmark London afternoon gold-fixing price stood at $879.75 an ounce, up $9.50 from Monday. See full story.