COMEX gold eases, rally pauses in sight of $400/oz

Newswire

NEW YORK, Oct 27 (Reuters) - COMEX gold backed off Monday from a $23-surge that lapped at the 2003 highs last week, though bulls remained confident that futures could run to the $400 an ounce area if the dollar continued to decline. But dealers said prices were hemmed in before Tuesday's Federal Open Market Committee meeting and the expiration of COMEX November options on futures. One bullion trader labeled $380 and $400 "the big strikes" in the options ring. "So we'll probably just go ...

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