Gold briefly hit a record Tuesday and then pulled back after the dollar strengthened and oil prices fell on fears that a slumping U.S. economy will slow demand for energy.
February gold fell 80 cents to settle at $902.60 on the New York Mercantile Exchange's Comex, after earlier soaring to a record high of $916.10. March silver fell 12.5 cents to settle at $16.30 an ounce, while copper lost 9.75 cents to settle at $3.2415 a pound.
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Gold Fell after Brief Record High
Gold futures surged in early trading after the Commerce Department said retail sales fell by 0.4 percent in December
