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Gold Prices Erase Early Losses As U.S. Stock Market Sells Off

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(Kitco News) - Gold prices are trading steady to slightly up in late-morning action Wednesday. The precious metal has erased modest early losses and is seeing a bit of safe-haven demand as the U.S. stock market sees solid selling pressure. The U.S. dollar index has also backed down from its daily high and is now trading weaker on the day, which is also working in favor of the metals market bulls. December gold was last up $0.50 at $1,192.00

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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