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發表於 2007-2-3 01:21:57
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Gold Drops From Six-Month High on Speculation Rally Is Overdone
这也算是个理由，真是！
Gold prices in New York fell the most in almost a month on speculation a rally to a six-month high was overdone.
Gold rose 4 percent in January. The metal yesterday climbed to $667.20 an ounce, the highest since Aug. 2. Prices touched $603 on Jan. 5.
``Gold's up $50 on the year, so there'll be profit-taking,'' said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. ``We're all getting rewarded for buying dips.''
Gold futures for April delivery fell $11.80, or 1.8 percent, to $651.20 an ounce at 10:22 a.m. on the Comex division of the New York Mercantile Exchange. A close at that price would mark the biggest percentage decline since Jan. 5. Prices are little changed this week.
A futures contract is an obligation to buy or sell a commodity at a set price for delivery by a specific date.
The seven-day relative-strength index for gold futures climbed to 79 yesterday. A reading above 70 generally means traders expect prices to drop. The measure was at 75 the previous day.
``Pulling some chips off the table is the name of the game,'' said Jon Nadler, an investment-products analyst at Montreal-based co Minerals & Metals Co.
``Profit-takers are hitting the metal with one sell order after another.''
Gold may rebound as energy costs gain, the dollar weakens and turmoil in the Middle East disrupts financial markets, analysts said. |
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