Gold Corrects from Recrod High as Officials Caution Threats of Currency Tensions

Finally, we saw sizable profit taking in gold and this was triggered by important financial officials' warnings against currency tensions. The dollar rebounded in the NY session as jobless claims fell more than expected. The dollar index ended the day flat at 78.04. The benchmark contract for gold slumped to as low as 1326.5 after rallying to a new record high of 1366 as investors used the opportunity to lock in the profits.

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Gold Corrects from Recrod High as Officials Caution Threats of Currency Tensions