RTTN: Gold Edges Down Towards $1,120 As Dollar Ticks Higher
(RTTNews) - The price of gold eased Friday morning as the U.S. dollar was trading higher versus a basket of currencies. Profit taking at higher levels, after it had gained over 2% earlier this week, also weighed on gold.
Gold for April delivery was down $5.8 to $1,121.70 an ounce, after a choppy session Thursday when the yellow metal closed with marginal gains.
Meanwhile, the greenback was ticking higher against the British pound and the euro in morning deals.
The euro continued to slip for a second session Friday morning as concerns over the Greece debt situation weighed on traders. Earlier this week, the euro rose to a multi-week high versus the dollar.
With no major economic data on tap today, traders will look to currency markets to get clues.
Elsewhere, the prices of silver and platinum were also ticking lower in morning deals.
