Gold Extends Early Losses, Closing In On $1,300
(Kitco News) - Gold prices are solidly lower and at a four-month low in late-morning action Tuesday. June gold futures have dropped below the important 200-day moving average on the daily chart, which is emboldening the bears and inviting more technical selling interest. A very strong U.S. dollar index that hit a nearly four-month high today is working hard against the precious metals market bulls. June gold was last down $12.40 an ounce at $1,306.70.
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