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Gold Prices At Four-Week High On Rising Oil, Lower Stocks and U.S. Dollar

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - The gold market is posting good gains in late morning dealings Friday. Outside markets are lending a helping hand to the precious metals markets bulls. The U.S. dollar index is lower and crude oil prices are solidly higher. U.S. stock indexes have also moved to lower levels on the day, which is also benefitting the safe-haven gold market. Pre-placed buy stop orders have also been triggered in the futures market when prices moved above near-term technical resistance levels. Gold prices are now poised to close at a bullish weekly high close today, and also close at the highest closing level in a month. December gold was last up $12.20 an ounce at $1,290.30.

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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