Gold falls on bailout news

Gold prices turned lower Thursday as an agreement in principle on a U.S. financial rescue package prompted investors to sell safe-haven assets in favor of stocks.

In other commodities, crude oil rebounded, Gold for December delivery fell $13 to settle at $882 an ounce on the New York Mercantile Exchange, after earlier falling as low as $868.80.

Other precious metals traded mixed.

December silver fell 16.5 cents to settle at $13.275 an ounce, while December copper rose 2.8 cents to settle at $3.1345 a pound.

Light, sweet crude for November delivery rose $2.29 to settle at $108.02 a barrel on the Nymex. Meanwhile on the Chicago Board of Trade, wheat for December delivery rose 6 cents to settle at $7.3625 a bushel, while December corn fell 4.75 cents to settle at $5.5825 a bushel.

November soybeans declined 4 cents to settle at $11.83 a bushel.