Gold slips after 1% drop

On Tuesday, Gold edged down as early bargain hunting subsided, and dealers reported a weaker U.S. dollar was probably needed to help the metal break free from its current range.

The press release is quoted as saying:

Spot gold XAU= hit an intraday high of $1,124.30 an ounce and was at $1,120.40 by 0253 GMT, down $2.45 from New York’s notional close on Monday, when it fell 1 percent. Bullion was also around 1 percent below a 6-1/2-week high near $1,150 an ounce hit in early March.

Click here to access the entire press release