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Gold Gains $20 On Stock Market Volatility, Weakening U.S. Dollar

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(Kitco News) - Gold prices are posting sharp gains of around $20 an ounce in late-morning action Wednesday. A volatile day in the U.S. stock market is helping to boost safe-haven gold. U.S. stock indexes were poised to open the U.S. day session modestly up, but then dropped sharply in the immediate aftermath of a hotter-than-expected U.S. consumer inflation report. Since then the stock indexes have bounced back above unchanged. Meantime, the U.S. dollar index has lost good early gains to trade lower on the day, and that is also helping out the precious metals market bulls. April gold was last up $21.10 at $1,351.40.

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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