NY gold sinks from new peak early on profit taking

Newswire

NEW YORK, Sept 22 (Reuters) - Gold futures tumbled on fund and bank selling Thursday morning, after inflation fears fanned by high oil prices amid a busy hurricane season earlier boosted prices to near-18-year and contract highs, dealers said. December delivery gold on the New York Mercantile Exchange's COMEX division fell $4.60, or 0.97 percent, to $468 an ounce by 10:40 a.m. EDT, trading from $479 to a three-day low of $466.80. Gold lost some of its shine as traders cashed in on gains ...

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