NY gold, precious metals hit by profit taking early

Newswire

NEW YORK, June 21 (Reuters) - U.S. gold futures retreated sharply before trimming losses by midmorning on Tuesday, as speculative players lightened up holdings in the precious metals complex to cash in on recent gains, traders said. As other markets took a tumble, platinum was especially hard-hit, losing 2 percent and backpedaling from the pivotal $900 per ounce level. "It's the same thing in all the metals: you are seeing a lot of long liquidation and profit taking, because open ...

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