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Gold Prices Push To 5-Week Highs As U.S. Stock Market Melts Down

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Live 24 hours gold chart [Kitco Inc.]

(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.

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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