Gold Price Backs Off A Bit On Profit Taking, Rebound In U.S. Dollar

New York (May 3)  Gold prices have slipped below unchanged on the day, in late-morning dealings Tuesday. Some profit-taking pressure from the shorter-term futures traders is featured after June Comex gold prices hit a 15-month high of $1,306.00 on Monday. The U.S. dollar index has also seen a corrective bounce today, after notching an eight-month low overnight. The firmer greenback today is also a mild negative for the precious metals markets. June gold was last down $6.10 an ounce at $1,289.40.

Source: KitcoNews