Gold Loses Altitude As U.S. Dollar, U.S. Stock Market Gain
(Kitco News) - Gold prices have lost most of their moderate early gains and are trading around steady to slightly higher levels on the day in late-morning action Friday. A rise in the U.S. dollar index and a dip in crude oil prices are bearish "outside market" elements that are working against the precious metals markets at present. Risk-on trading attitudes, as seen by U.S. stock indexes moving to record highs Friday morning, are also pressuring safe-haven gold and silver markets. February gold was last up $1.00 at $1,258.00.