Reply #57: COMEX gold finishes softer, stuck in a range

[54anickel]

http://www.reuters.com/financeMarketReportArticle.jhtml;AQ2VHFE212QJICRBAEOCFEY?type=goldMktRpt

NEW YORK, Dec 7 (Reuters) - U.S. gold futures closed lower on Tuesday on profit-taking as a recent precious metals rally seemed to dry up this week amid a lack of interest, despite fresh record lows in the dollar, traders said.

Gold has been consolidating since it hit a 16-year high of $458.70 in February futures on Thursday, in a bull move beefed up by nearly daily new highs in the euro against the dollar.

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Traders said gold appeared to be caught in a near-term trading band from $450 to $455, marked on one end by flight-to-safety buying and on the other by profit-taking and trade selling at current strong market prices.

The dollar touched a record low against the euro at $1.3470 early on Tuesday, after a warning by European officials on the euro's rise fell on deaf ears, with investors determined to dump the U.S. currency. The euro last fetched $1.3422.

The dollar also reached a 12-year low versus sterling beyond $1.95 .

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