Make Kitco Your Homepage

Gold Extends Earlier Losses To Trade Sharply Lower

Kitco News

Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are trading solidly down and at a four-week low in late-morning action Friday. Early losses have been extended on technical selling pressure, including sell stop orders being triggered when key chart support levels were breached. Bearish "outside markets" today that include a higher U.S. dollar index and lower crude oil prices are pressuring the precious metals markets. Both gold and silver prices are headed for technically bearish weekly low closes on a Friday, which would then suggest follow-through selling pressure early next week. December gold was last down $16.70 an ounce at $1,208.30.

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.