Gold Eased on Profit Taking

Gold futures dropped Thursday as traders consolidated prior-session gains.

Futures closed down $10.30 at $632.50 an ounce on the New York Mercantile Exchange.

"It's a knee-jerk reaction after yesterday," said Charles Nedoss, senior account manager at Peak Trading Group in Chicago. "You didn't have any more bullish news. You just saw some people take profits."