Gold Prices Back Down from Day's High

New York (Sept 23) The gold market has given up a good portion of its early price gains in mid-morning dealings Tuesday, but is still trading modestly higher. Short covering and safe-haven buying interest are featured on the day, but the shorter-term futures traders are back in doing some selling based upon the overall bearish technicals for gold. December gold last traded up $5.00 an ounce at $1,222.90.

Silver lost all of its early morning gai, and spot now is flat at $17.76, while palladium is still up $5 at $810.

Source: KitcoNews