Gold Erases Overnight Losses As U.S. Dollar Index Weakens
(Kitco News) -
Gold prices are near steady and have erased modest overnight losses, in late-morning trading Wednesday. The U.S. dollar index has moved to its daily low and is down on the day, which prompted some renewed buying interest in the precious metals markets. A surprising drop in the August U.S. producer price index (down 0.1% from July) also worked in favor of the precious metals market bulls by pressuring the greenback. December gold was last up $0.30 at $1,202.00.
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