Gold Prices Push To 5-Week Highs As U.S. Stock Market Melts Down
(Kitco News) - Gold prices have rallied and are at their daily highs and have hit five-week highs in late-morning trading Thursday. U.S. stock indexes are set to open with sharp losses, on strong follow-through selling from Tuesday's big declines. This has prompted some safe-haven demand for the gold market. If the stock market adds significantly to overnight losses, look for gold gains to be even stronger. February gold was last up $5.00 an ounce at $1,247.50.
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