By Nick Godt, MarketWatch
NEW YORK (MarketWatch) -- Gold retreated from a record high close early on Wednesday, as concerns about European banks and economic growth faded and investors pulled out of safe-haven positions.
Gold futures for December delivery were down 10 cents at $1,259.20 an ounce, though that was well off an earlier low of $1,259.
On Tuesday, gold gained $8.20 to end at $1,259.30 an ounce, surpassing its record high set in late June, as stocks, oil and the euro sold off on concerns that European banks were more exposed to sovereign debt than previously believed.
The safe-haven allure of gold waned somewhat Wednesday after Portugal sold bonds to strong demand, signaling some support for debt-strapped European governments.
