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Gold Prices Rip Higher Following Rpts Former Trump Nat. Sec. Advisor Cooperating With Special Prosecutor

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) -Gold and U.S. Treasury prices have rallied to their session highs in late-morning action Friday, with T-Bonds and T-Notes futures posting strong gains, on news reports that former Trump Administration national security advisor Michael Flynn is set to cooperate with the special prosecutor overseeing the probe of Russian tampering with the U.S. presidential election.

Traders are extrapolating this news to potentially mean that President Trump may be in very serious trouble, if he did indeed collaborate with the Russians on the U.S. election tampering. The U.S. stock market quickly sold off on this news, which also helped to lift safe-haven gold.

Remember that the marketplace, when hit with surprising news such as this, typically factors in a near worst-case scenario on the matter. February gold was last up $15.50 an ounce at $1,291.70.

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