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Gold Loses Some Altitude As Shorter-Term Traders Take Profits

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices have backed off a bit from the 13-month highs hit overnight. The shorter-term futures traders are booking some profits heading into the weekend. However, selling interest will be limited ahead of the weekend and amid the keener uncertainty in the marketplace. The U.S. has put the blame on Iran for this week's attacks on ships in the Gulf of Oman. U.S. warships are patrolling the region and President Trump's patience with Iran is wearing thin. August gold was last up $7.10 an ounce at $1,350.80.

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