Gold Lost And Gained

Gold futures fell on Tuesday amid fund liquidation that may have been helped along by early euro weakness, traders said.

August gold dropped to $435.90 overnight and then rallied to $436.50 early in the open outcry session. However, then it gained 50 cents to close at $440.50 on the Comex division of the NYMEX.

"It's because the euro bounced back up," said one trader about the metals' recoveries. The single European currency had slid as far as $1.2071 overnight, but by the end of metals trading, was right back around the $1.2150 to $1.2155 area from late Monday.