Profit taking led Tuesday to lower finishes in gold
Profit taking, as the dollar strengthened despite a widening U.S. trade deficit, led to lower finishes in gold and silver futures Tuesday, Dow Jones reported.
June gold fell $1.10 to 429.30, while May silver slid 10 cents to $7.155.
The euro briefly upticked after the U.S. government reported that U.S. trade
deficit widened 4.3% to a record $61.04 billion during February, exceeding the
$58.8 billion consensus forecast. The single European currency soon turned south, however, and gold and silver followed.
"People who are short-term traders are watching the euro," said one trader. "The euro was set up for a fall before the figures came out.