Gold Pulls Back

NEW YORK, April 7 (Reuters) - Gold futures in New York tumbled from a 25-year high on Friday morning, pressured by speculator and trade selling as the dollar climbed after a closely watched U.S. jobs report and as oil prices eased.

Market sources said that investors were pocketing part of the heady gains seen this week across the precious metals group when prices surged to multi-decade highs.

Silver moved lower, after stretching up to a new 22-year peak above $12 an ounce, on further speculative buying. Platinum and palladium also pulled back.
"The gold market reaching that $600 level I think might be encouraging a little profit taking," said James Quinn, commodities commentator for AG Edwards & Sons in New York. "And, I think that we're coming off on the jobs report and it's the end of the week and you have a lower oil price."

Gold for June delivery fell $9.60 to $590.10 an ounce by 10:41 a.m. EDT on the New York Mercantile Exchange's COMEX division.

Gold nugget sales and museum size gold nuggets - visit: http://www.california-gold-rush-miner.us/