Gold Price Sees Some Profit-Taking Selling Pressure

New York (Sept 8) Gold prices have come under moderate selling pressure as midday approaches Thursday. Some profit-taking from this week's good gains is featured. Also, the U.S. dollar index has rebounded from its daily low and is trading above unchanged today, and that's putting some selling interest into the precious metals markets. However, good gains in the crude oil futures market today are limiting selling pressure in the metals.

By 12:30pm EST spot gold was down $9 to $1337, while spot silver declined more than 1% to $19.60.

Source: FOREX