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(Kitco News) - Comex gold futures prices are trading sharply higher in late-morning Trading Thursday, and have extended early gains to stretch to a fresh six-week high.
The somewhat surprising news that the European Central Bank reduced its key interest rate provided a lift to most commodity markets, including the precious metals. Rumors and speculation regarding Greece, including rumors that its prime minister may resign, have only added to the European Union sovereign debt turmoil, which has only added to more safe-haven demand for gold. The near-term technical posture of the gold market has also turned more bullish Thursday. December gold last traded up $36.50 an ounce at $1,766.10.

By Jim Wyckoff, contributing to Kitco News;

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