Gold prices have dropped to their session lows in mid-morning U.S. trading Friday. Some profit-taking pressure from the shorter-term futures traders is featured after the big price gains seen on Tuesday, as well as some more chart consolidation. Still, the bulls are set to wrap up a week in which they did gain some technical strength to begin to suggest a market bottom is in place. However, they have plenty of heavy lifting to do in the near term to suggest a price uptrend can be sustained. February gold was last down $8.80 an ounce at $1,216.80.
