Gold Extends Early Losses To Trade Sharply Lower
Friday February 26, 2016 11:45
(Kitco News) - Gold prices are trading sharply lower in late-morning dealings Friday.
Profit-taking pressure ahead of the weekend, less risk aversion in the marketplace late this week, and a sharply higher U.S. dollar index that hit a three-week high Friday, are all working against the gold market bulls. No significant chart damage has been inflicted, however, and the bulls are maintaining their firm near-term technical advantage as prices remain in an uptrend on the daily chart. April gold was last down $21.00 an ounce at $1,218.00.
By Jim Wyckoff, contributing to Kitco News; email@example.com
Follow me on Twitter @jimwyckoff
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