Gold Price Sells Off As US Dollar Posting Good Gains
New York (Jan 11) Gold prices have lost their early modest gains and are trading lower and near the session low in late-morning action Wednesday. The U.S. dollar index is showing solid gains on the day, which is prompting some profit-taking pressure from the shorter-term gold traders, following recent gains. February gold last traded down $6.40 an ounce at $1,179.20.
By 10:30am EST spot gold was down $9 to $1,179, while spot silver has already declined more than 1% to $16.60. However, spot platinum declies $12 to $966.