NY gold backpedals from high, ends still atop $450

Newswire

NEW YORK, Nov 30 (Reuters) - Gold futures closed down from a 16-1/4-year peak on Tuesday as speculative liquidation pressured the overbought market, but prices remained above $450 an ounce, buoyed by a generally soft U.S. dollar. Resistance leading up to the $460 area and a slight loss of buying power after gold's recent rally also were capping prices, dealers said. "Gold is showing signs of correcting today after a barrage of economic data from the U.S., light month-end book-squaring ...

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