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Gold Pushing Higher on Safe-Haven Demand Heading Into Uncertain Weekend

Kitco News

Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are at their daily highs and moderately up in late-morning price action Friday. Safe-haven buying interest has kicked in heading into an uncertain weekend on the foreign exchange front. Currency markets are roiled and the U.S. dollar index has hit a 13-month high as the Turkish lira is in trouble, with European countries also having troubling exposure to Turkish debt. Also, the short-sellers of gold futures are getting panicky ahead of the weekend, and are bailing out of their positions. December gold was last up $4.00 an ounce at $1,223.90.

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