(Kitco News) – Gold prices are modestly down in morning U.S. trading Wednesday. Mild early gains have slipped away as the U.S. stock market and the U.S. dollar index have moved up from their daily lows. More profit taking from recent gains is featured in the yellow metal. While there has been no near-term technical damage inflicted during this recent downside correction, the bulls need to step up and show some power fairly soon to keep technical momentum on their side. April gold was last down $3.90 an ounce at $1,324.70.
By Jim Wyckoff
For Kitco News