Thursday, March 6, 2008
Gold prices decline on profit-taking
Story link: Gold prices decline on profit-taking
by Elaine Frei
by Elaine Frei
Precious metals prices were lower on Thursday.
April gold was down $11.60 to $976.90 per troy ounce in New York on profit-taking after hitting a new record high on Wednesday.
Some analysts expressed the opinion that prices have gone too high for some buyers at this point, citing an 81 percent decline in gold imports to India in February over the same month last year.
May silver dropped 58 cents to $20.21 per troy ounce, while April platinum plummeted $75.30 to $2,200.80 per troy ounce on the session.
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Latest Metals News:
Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Copper declines after record high in London
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