Daily Gold Update

Source: MarketWatch

New York— Gold futures rose for a second session on Wednesday following the metal's recent sharp losses, while a worse-than-expected quarterly loss from Alcoa Inc. kept alive concerns about economic woes. Gold is "in a continued upward move as more bargain hunting ensues," said George Gero, a precious metals trader for RBC Capital Markets.

Gold for April delivery rose $2.60, or 0.3%, to end at $884.80 an ounce on the Comex division of the New York Mercantile Exchange. It ended slightly higher on Tuesday but had slumped 6% in three sessions ended Monday. The more active June contract also rose Wednesday, up 0.3% at $885.90 an ounce. Despite the two-day gain, gold is still about $120 lower than its February high above $1,000. See full story.