NY gold backpedals from $500/oz on profit taking

Newswire

NEW YORK, Nov 30 (Reuters) - U.S. gold futures retreated on Wednesday morning, but still held near Tuesday's 18-year high above $500 an ounce, as investors pocketed some gains from the metal's recent blistering rally, dealers and analysts said. At the COMEX division of the New York Mercantile Exchange, new benchmark February delivery gold shed $4 to stand at $499.50 an ounce by 10:43 a.m. EST. Traders saw further consolidation at current levels as likely, with players awaiting the next ...

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