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Gold Pushing Higher on Safe-Haven Demand Heading Into Uncertain Weekend

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(Kitco News) - Gold prices are at their daily highs and moderately up in late-morning price action Friday. Safe-haven buying interest has kicked in heading into an uncertain weekend on the foreign exchange front. Currency markets are roiled and the U.S. dollar index has hit a 13-month high as the Turkish lira is in trouble, with European countries also having troubling exposure to Turkish debt. Also, the short-sellers of gold futures are getting panicky ahead of the weekend, and are bailing out of their positions. December gold was last up $4.00 an ounce at $1,223.90.

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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