SAN FRANCISCO (MarketWatch) — Gold futures fell 2% in electronic trading late Tuesday, pressured as the U.S. dollar strengthened further. The U.S. Federal Reserve’s statement “was termed ‘guardedly upbeat’, with no change in course expected,” said Darin Newsom, a senior analyst at Telvent DTN. “Given that, gold has come under pressure as ‘safe-haven’ money comes out” of gold and moves into the dollar and possibly back into stocks, he said. Gold for February delivery fell $31.90 on Globex after closing out the regular session at $1,663.10 an ounce. March silver was also trading 2.1%, or 67 cents, lower at $30.61 an ounce.

Originally from MarketWatch