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Gold Pares Earlier Losses On Bargain Hunting

Kitco News

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(Kitco News) - Gold prices are trading near steady or just slightly lower in late-morning action Tuesday, and have erased most of earlier losses. The yellow metal is trading back above the key $1,300.00 level. Bargain hunters once again stepped in to "buy the dip" in gold prices. Shorter-term futures traders are also doing some short covering (the buying back of previously sold, or short positions). August gold was last down $0.90 at $1,302.40.

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 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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