Gold Extends Losses as Profit Taking, Technical Correction Featured Heading Into Weekend

January 23, 2015

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.

Source: KitcoNews

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