Gold's repeated failure to break above key technical resistance at $1,260 an ounce prompted investors to take profits. On Tuesday, gold reversed early gains to end nearly 1 percent lower for its biggest one-day drop so far this year. "Having once again seen that the 'seller' at the $1,250-1,255 level was formidable ... we have no choice but to reduce our exposure a bit," said independent trader Dennis Gartman.
NCM Price at posting:
$9.39 Sentiment: Buy Disclosure: Held