Gold futures were down Tuesday from a record high as speculative liquidation pressured the overbought market, but nevertheless gold prices remained above $450 per ounce, supported by a weak .US. dollar.
"Gold is showing signs of correcting today after a barrage of economic data from the U.S., light month-end book-squaring and possibly some early year-end profit taking," said James Moore at TheBullionDesk.com.
Gold futures for February delivery slipped $2.60 to $453.20 an ounce on the New York Mercantile Exchange's COMEX division, after trading between $456 and $450.
December contract gold tumbled $2.40 to $451.30.
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Gold Is Showing Signs Of Correcting
Gold futures were down Tuesday
