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Gold Pushes Above Unchanged, Back Above $1,200.00, In Early U.S. Trading

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices have erased mild overnight losses and are trading with slight gains and back above $1,200.00 in early U.S. dealings Monday. Some short covering in the futures market and perceived bargain hunting in the cash market are featured. From a technical perspective, the bulls believe they have stabilized prices with the recent sideways action on the daily chart, to suggest a market bottom is in place. That's also inviting some buyers to step in on the long side. December gold futures were last up $1.70 at $1,202.20.

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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