P.M. Kitco Metals Roundup: Gold Ends Weaker, but Up from Daily Low, on Profit Taking
(Kitco News) - Gold prices ended the U.S. day session with modest losses Monday, but did close up from the daily low scored in early trading. A last-minute Cyprus bank bailout package was agreed upon early Monday, which saw investor risk appetite initially uptick to start the new trading week. The Cyprus bailout news also put some downside price pressure on the safe-haven gold market, some of which was profit-taking from recent gains. April Comex gold last traded down $3.80 at $1,602.30 an ounce. Spot gold was last quoted down $5.90 at $1,603.75. May Comex silver last traded up $0.072 at $28.77 an ounce.