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Gold Extends Gains, Powers To 3-Month High On Safe-Haven, Technical Buying

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(Kitco News) - Gold prices are trading sharply higher and have hit nearly three-month highs in late-morning action Thursday. Safe-haven buying interest amid very shaky world stock markets is featured today. Also, chart-based buying interest has kicked in after buy stop orders were triggered in the gold futures market when prices pushed above key technical resistance levels. Now, the door is opened to push in prices to $1,250.00, or above, in the coming few weeks, including a price uptrend likely to be sustainable at least into the end of the year. December gold futures were last up $29.20 at $1,222.80.

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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