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Heavy profit-taking hits gold, silver; what to watch, near term
Gold and silver futures markets were hit with heavy profit-taking pressure Friday, after overnight posting record highs. December gold hit a new all-time high of $4,392.00 overnight, while December silver reached a new peak of $53.765. As of this writing near midday Friday, December gold was down $58.80 at $4,248.00. December silver was down $2.591 at $30.73. Overnight, there were greater concerns about the U.S. banking sector.There were worries about bad bank loans at two regional U.S. banks, which have also raised concern about credit quality in the U.S. economy. U.S. bank stocks extended their slide in overnight ... (full story)
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