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Gold Moves To Daily Highs Amid Weak U.S. Dollar, Lower U.S. Stocks

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(Kitco News) - The gold market has modestly extended early gains and its trading moderately up in late-morning dealings Monday. The yellow metal is being supported by a weaker U.S. dollar index and lower world stock markets to start the trading week. News the U.S. Deputy Attorney General Rod Rosenstein is set to be fired by President Trump could also be slightly supporting the safe-haven metal. Perceived bargain hunting in the cash market and some short covering in the futures market are featured today, amid ideas the gold market has put in at least a near-term price bottom. December gold was last up $7.00 at $1,208.50.

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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