Gold futures fell on Tuesday amid fund liquidation...
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.