COMEX gold backs off in morning, can smell $400/oz

Newswire

NEW YORK, Oct 27 (Reuters) - COMEX gold opened weaker Monday, digesting a $23 rally that tickled the 2003 highs last week, amid confidence that the bull market has room to run to the $400 an ounce area if the dollar continues to sell off. A marginal rebound in the dollar from Friday's 15-day low against the euro curtailed overseas buying interest in gold, which was already looking way overdone, technically. December gold at 0910 EDT was off $1.40 at $387.80 an ounce. It traded from ...

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