Gold Extends Losses as Profit Taking, Technical Correction Featured Heading Into Weekend
San Francisco (Jan 23) Gold prices have added to early losses to trade solidly lower in late-morning dealings Friday. Some more profit taking in the futures market and a corrective technical pullback from recent gains are evident in gold. The strong rally in the U.S. dollar index the past two days, hitting a 12-year high overnight, has also prompted selling pressure in gold and silver markets. February gold was last down $13.10 an ounce at $1,287.30.