By Nick Godt, MarketWatch
NEW YORK (MarketWatch) -- Gold futures fell on Wednesday, as some degree of optimism over European credit returned following a successful auction by the European Central Bank, helping lift the euro and removing some safe-haven demand for gold.
Gold for August delivery fell $4.60, or 0.4%, to $1,237.80 an ounce.
The euro's gains pressured the dollar, which came under further pressure after disappointing private payrolls data.
Payroll processor ADP said private-sector employment increased by 13,000 in June. Economists surveyed by MarketWatch had been expecting the ADP report to show a 65,000 increase.
On Tuesday, gold rose modestly as stocks and other commodities fell sharply. Copper futures slid 5.1% as an economic indicator for China was revised down.
