Profit-taking, Stronger Dollar Contribute to Weakening Gold Prices

Monday, May 9, 2016

A stronger U.S. Dollar continued to pressure June Comex Gold futures early Wednesday. Gold prices are down $9.60 or -0.74% at $1282.20. Spot gold drifted lower by 0.30% at $1281.41 an ounce after losing almost 0.4% in the previous session. Profit-taking may have also contributed to the weakness after a six day rally.

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