PRECIOUS METALS: NY Gold Seen Down $4, Silver Down 12 Cents

NEW YORK (Dow Jones)--April gold futures are expected to open floor trading in New York around $4 an ounce lower Wednesday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. March silver is expected to be down 12 cents an ounce.

At 7:56 a.m. EST, spot gold was trading down $5.50 to $922.10, while the April futures on the Chicago Board of Trade were down $4.30 to $925.60 an ounce.

Precious metals were trading lower overnight as some profit-taking pulled platinum down from the record high hit in the previous session and gold also fell.

In other markets that have the potential to impact metals in the short term, the euro is down to $1.4653 from $1.4725 late Tuesday afternoon. In screen trading ahead of the pit open, the March S&P 500 futures are down 12.60 points to 1,342.80.

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