Gold Falls from Record High on Profit-taking

Profit-taking is seen in gold after price has rallied sharply recently and reached an all-time high at 1249.2. Currently trading at 1235, the benchmark contract has slid -0.65% from yesterday's close and -1.14% from the record high. We retain our view that further upside in gold is likely as long as sovereign crisis in the Eurozone remains unresolved.

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Gold Falls from Record High on Profit-taking