Tuesday, September 6, 2011

Precious Metals Turn Lower, XAU Gives Up Gains

Gold and silver shares turned lower alongside precious metals in late Tuesday
morning trading amid profit taking in the sector. The spot price of gold which
hit a new all-time record high of $1,922.20 per ounce earlier this morning
tumbled $32.72 to $1,867.48 per ounce, while silver slid $1.01 to $41.99 per
ounce as of 11:43am ET. Gold and silver shares relinquished their gains as well,
with the Philadelphia Gold & Silver Index (XAU) dipping 0.3% to 222.14.

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