Gold eased on Wednesday, giving up earlier gains, as the dollar recovered losses against the euro after U.S. durable goods data failed to impress, tempering appetite for the metal as an alternative asset.

But prices remained rangebound as traders awaited clearer direction from the currency markets.

Spot gold was bid at $941.80 an ounce at 1523 GMT, against $943.55 an ounce late in New York on Tuesday. Earlier it rose as high as $949.85.

U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange were down $1.8 at $944.20 an ounce.

“We are probably going to stay fairly rangebound,” said Standard Bank analyst Walter de Wet. “We would have to see some decent dollar weakness for gold to move above $956-960.”

The dollar rose versus the euro and a currency basket, reversing early losses, after durable goods numbers from the United States.

The data showed June orders for durable goods, excluding transportation,

Gold held just under $950 an ounce today, Wednesday, as the dollar steadied against a basket of currencies with weakness in the euro underpinning prices, but gains were capped by lack of physical demand for the metal.

A slide in oil prices is also undermining support for gold, analysts said.

Spot gold was at $947.85 an ounce at 1402 GMT, against $948.15 an ounce late in New York on Tuesday. U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange were up $1.30 at $948.20 an ounce.

“We are stuck in a range,” said Afshin Nabavi, head of trading at MKS Finance in Geneva. “We have to break below $944 or above $955 in order to see some interest in the market.”

“With stocks opening lower and the euro not performing that (well), gold could test the lower end of its range,” he added.

The dollar <.DXY> was steady versus a

Gold slid more than 1 percent on Monday as a stronger dollar dented interest in the metal as an alternative asset, with investors buying the currency as a safe store of value amid fears over the economic outlook.

Strength in the U.S. unit kept most dollar-priced commodities under pressure as it made them more expensive for holders of other currencies, analysts said.

Spot gold was bid at $921.20 an ounce at 1507 GMT, against $932.30 an ounce late in New York on Friday.

U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange fell $9.70 from Thursday’s close to $921.30 an ounce.

“There is a sell-off with the dollar strength,” said Standard Bank analyst Walter de Wet. “Gold is holding up quite well, compared to the other commodities. At these levels, we might see some physical buying.”

He said while this may lend support to prices, a break of the $920-922

Firm investment demand outweighs weak jewelery buying… Euro weakens on euro zone outlook… Oil prices tumble nearly 10 percent…

Gold swung into the black on Tuesday, rising more than 2 percent to a one-week high of $855.75 an ounce, amid market talk of a large order.

Firm investment demand for gold as a haven from risk is fueling buying of the precious metal, analysts said.

Spot gold was quoted at $853.00/855.00 an ounce at 1228 GMT, up from $834.55 late on Monday. Earlier it touched a low of $822.90, down more than 1 percent.

Standard Chartered analyst Daniel Smith said strong investor flows into products such as exchange-traded funds as investors sought more secure assets were offsetting weaker jewelery demand.

“People are slowly building long positions in gold and commodities more generally,” he said.

Gold managed shrugged off early weakness linked to a

Dollar tanks as Fed cuts interest rates to 0-0.25 pct… Oil traders eye OPEC production decision * SPDR Gold Trust bullion holdings rise again… Gold edged down in Europe on Wednesday as traders took profits after the previous session’s 2 percent gains on the back of a larger-than-expected interest rate cut from the U.S. Federal Reserve.

The market is awaiting fresh direction from the crude oil market, which rose ahead of an expected production cut from the Organization of the Petroleum Exporting Countries (OPEC).

Spot gold was quoted at $855.60/857.60 an ounce at 1024 GMT, little changed from $857.35 an ounce late in New York on Tuesday. U.S. gold futures for February delivery were up $14.70 at $857.40.

Gold is likely to consolidate after recent sharp moves, analysts said.

“We have jumped so much in a relatively short period of time without

Dollar firms vs euro ahead of expected ECB rate cut… Traders eye U.S. data, central bank rate cuts for impetus… U.S. November car sales tumble 37 pctGold eased on Wednesday as the dollar firmed against the euro, denting the metal’s appeal as a currency hedge, with traders awaiting a raft of key economic news due later this week.

A spate of interest rate decisions, including that of the European Central Bank on Thursday, are set to influence the currency markets, and key U.S. non-farm payrolls numbers will be released on Friday.

Spot gold slipped to $773.05/775.05 an ounce at 1000 GMT from $781.50 an ounce in New York late on Tuesday.

“This is a big week for news, and a lot of people will be on the sidelines ahead of that,” Afshin Nabavi, head of trading at MKS Finance, said. “This is going to be

Gold eases in quiet trade, traders eye next week’s data… Gold set for biggest gain since 1999 on safe haven buying

Gold edged down on Friday as the dollar firmed against the euro, but trading was quiet as investors awaited the outcome of OPEC’s production meeting this weekend and a spate of data due next week for fresh impetus.

Spot gold was quoted at $810.00/812.50 an ounce at 1310 GMT, down from $814.60 an ounce late on Thursday, as the firmer dollar dented interest in the metal as a currency hedge.

The euro slipped after data showed falling inflation in the euro zone, boosting expectations the European Central Bank will cut interest rates further. [ID:nLS548735]

Falling oil prices are also doing little to help gold, which typically moves in line with crude. Traders are awaiting the outcome of this weekend’s meeting of the OPEC oil cartel,

Gold was sharply higher in the far East on Wednesday, pushing past $900, but then got stuck in a range between there and $920 straight through the Globex, seesawing back and forth and finally finishing at $906.10, up $19.00. Overnight, gold is sharply lower.