Comex Gold Trades Modestly Lower on Profit Taking, Consolidation

Comex gold futures prices have weakened a bit in morning dealings Tuesday.
April gold last traded down $4.50 an ounce at $1,421.90. Prices had been hovering around unchanged levels in earlier trading Tuesday. Gold traders are taking some profits and the market is also in a consolidation mode after the recent price gains. Generally weaker commodity market prices on Tuesday, including crude oil, are also a negative factor for the precious metals.