Gold Extends Early Losses As U.S. Dollar, Stock Indexes Rise
(Kitco News) - Gold prices are lower and trading near their daily lows in late-morning action Wednesday. Sell stop orders were also triggered in the futures market by the shorter-term traders. The yellow metal is being pressured by profit-taking from recent gains and by a solid rebound in the U.S. dollar index the past few trading sessions. U.S. stock indexes are also higher on the day Wednesday, which is another negative for the competing asset class, gold. June gold was last down $12.50 an ounce at $1,245.80.