US gold futures slipped in early trade Wednesday on profit-taking before the New Year holiday break and a slightly firmer dollar, traders said. Gold for February delivery fell $10.20 at $859.80 an ounce on the Comex division of the New York Mercantile Exchange. The range spanned $858.40 to $875.60 an ounce, having touched its loftiest since October 10 at $892.0 on Monday.
"You are seeing some profit-taking coming in," said Steve Platt of Archer Financial Services in Chicago. Early close in London and light staffing on US trading desks becalms trade ahead of New Year holiday on Thursday. Spot gold was lower at $858.45/861.45 an ounce, against the late New York Monday trade at $868.40/$871.50 an ounce.
March silver slumped 19.5 cents to $10.785 an ounce. Spot silver was quoted at $10.75/10.81 an ounce, from $10.87/10.97 an ounce on Tuesday. Nymex January platinum slipped $4.90 to $905.00 an ounce. Spot platinum was quoted at $905.00 an ounce. Nymex March palladium eased 0.05 cent to $184.10 an ounce. Spot palladium was quoted at $179.50/184.50 an ounce.
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