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Gold Rallies Modestly as U.S. Dollar Index Shows Solid Losses

Tuesday April 28, 2015 10:30 AM

(Kitco News) - Gold futures have pushed to moderately higher levels in late-morning trading Tuesday. More follow-through short covering in the futures market and bargain hunting in the cash market, following the big gains scored Monday, are featured today. The gold market got a boost when the U.S. dollar index extended its early losses to trade solidly lower on the day. There continues to be some safe-haven buying interest in the gold market amid the ongoing debt negotiations between Greece and the European Union/International Monetary Fund--which are not going well. June gold was last up $6.60 an ounce at $1,209.90.

By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com
Follow me on Twitter @jimwyckoff

 

 

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 precious metal products, 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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