Summary Box: Gold prices fall to lowest level in 3 months as European bank worries shrink

Summary Box: Gold drops as European worries wane

GOLD DROPS: Gold dropped to a three-month low Tuesday as European financial concerns dissipated. Its price 2.1 percent to $1,161.80 an ounce.

EURO WORRIES WANE: Growing confidence about the health of Europe’s economy and financial sector has slowed gold buying. Gold had benefited in recent months from worries about mounting government debt in Europe and a falling euro.

OIL RETREATS : Oil prices dipped after disappointing reports on consumer confidence and manufacturing hurt demand expectations.