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Gold Solidly Up, Pushes To 3-Week High, On Chart-Based Buying

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are posting solid gains, are near their session highs and scored a three-week high in late-morning dealings Wednesday. Silver prices are also seeing good advances. The gold market on Wednesday has seen a bullish upside "breakout" from a sideways trading range on the daily bar chart, which has prompted technically oriented traders to step in on the buy side. Buy stop orders were also triggered in the gold futures market on today's advance. The gold and silver market bulls have regained the slight near-term technical advantage. December gold was last up $11.40 at $1,287.50. December silver was up $0.29 at $17.23.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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