Profit taking hits NY gold, sets new 25-year peak

Newswire

NEW YORK, Jan 20 (Reuters) - U.S. gold futures settled lower on Friday as investors pocketed some profits following the market's early charge to a new 25-year high, sources said. "The chart pattern does say we had a reversal day and that could be bearish, but the way this market is going, it is hard to be bearish," said Scott Meyers, senior analyst with Pioneer Futures Inc. "We had a huge week so it was just some end of the week profit-taking. I think it was just a little pause in a ...

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