MW: Gold futures start to slide as investors pocket gains
By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) -- Gold futures started lower Wednesday as the metal's recent climb to a six-week high triggered some selling by investors.
Gold has "given up some of yesterday's small gains as summer trading volumes remain low and traders book profits after the recent rise in gold prices," wrote analysts at GoldCore Ltd. in a research note.
The gold contract for December delivery fell $2.20 to $1,226.10 an ounce on the Comex division of the New York Mercantile Exchange.
The contract ended Tuesday's New York floor session up $2.1, or 0.2%, to $1,228.3 an ounce on the Comex division of the New York Mercantile Exchange, the highest settlement for a most-active contract since late June.
