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Gold Extends Overnight Gains, Trades Solidly Higher And Back Above $1,200

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(Kitco News) - Gold prices have added on to overnight gains to trade solidly higher and back above $1,200.00 in early morning dealings Tuesday. Safe-haven demand due to renewed concerns about the overall health of the European Union amid a new anti-establishment government in Italy has helped to boost gold today. Also, some short covering in the futures market by the shorter-term traders is featured, as well as some perceived bargain-basement buying interest following recent selling pressure. December gold was last up $14.80 an ounce at $1,206.50.

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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