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Gold, Silver Prices Holding Solid Losses in Late-Morning Trading

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(Kitco News) - Gold and silver prices opened the U.S. day session by extending overnight losses, and continue to hold the solid declines and are near daily lows in late-morning action Monday. Gold has fallen back below the key $1,200.00 level. A stronger U.S. dollar index is prompting selling interest in the precious metals markets today, despite some keener risk aversion in the marketplace to start the trading week. Also, a sharp sell-off in China's stock market Monday is prompting some concern about less demand for metals coming out of the world's second-largest economy. December gold was last down $15.30 an ounce at $1,190.20, while December silver was last down $0.339 at $14.31.

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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