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Gold, Silver Gain, At Daily Highs, On Technical Buying, Weaker USDX

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(Kitco News-  Gold and silver prices are posting good gains and are near daily highs in late-morning trading Wednesday. Some chart-based buying has occurred, including buy stop orders being triggered in the futures markets, when both metals pushed to new weekly highs. Also, a weaker U.S. dollar index on this day is a bullish "outside market" factor working in favor of the metals market bulls. A rebound in the crude oil market today is further supporting buying interest in the metals. December gold was last up $9.20 at $1,230.30 and December silver gained $0.261 at $14.53.

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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