MTECHTIPS;-Gold, Silver fall back from multi month highs on profit taking

MTECHTIPS;-Gold, Silver fall back from multi month highs on profit takingGold, silver and the other precious metals have given back some of their recent strength on profit taking.The yellow metal hit a four-month high Thursday on building expectations for more Federal Reserve easing.

According to TD Securities, the markets are very quiet as many participants seem to have taken today off--volumes and ranges overnight in the precious metals were negligible and some long liquidation has taken place on the back of a weaker EUR.“This morning, we are seeing moderate profit taking from precious metals after they all achieved multi-month highs yesterday, Commerzbank added.As of 7:37 a.m. EDT, the euro has eased to $1.2504 from $1.2563 late Thursday. Comex December gold fell $6.10 to $1,666.70 an ounce, September silver was down 21.6 cents to $30.24, October platinum was down $19.90 to $1,535 and September palladium tumbled $20.10 to $636.50.

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