Gold Futures Decline, Analyst Cites Profit Taking

Gold futures fell in Asian trading hours on Tuesday, with the December contract down $13.30 at $1,757.30 an ounce.

Gold retreated in New York on Monday, moving lower after a strong rally the previous week. “A late burst of profit taking and fresh selling drove prices down….[the] path of least resistance is lower but limited as the market is likely to consolidate,” said metal analysts at HSBC.

Marketwatch