Comex Gold Retreats on Profit Taking, Decline in Crude Oil, Firmer U.S. Dollar


Comex Gold Retreats on Profit Taking, Decline in Crude Oil, Firmer U.S. Dollar

08 March 2011, 10:07 a.m.
By Jim Wyckoff


(Kitco News) - Comex gold futures have come under moderate selling pressure in mid-morning trading Tuesday. The precious yellow metal is seeing profit-taking pressure from recent gains that saw a new record high scored Monday. The profit-taking has been prompted by a drop in crude oil prices and a firming U.S. dollar index Tuesday morning. April gold last traded down $10.00 an ounce at $1,424.40.
  
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