Make Kitco Your Homepage

Gold Pushes To 5-Mo. High As U.S. Dollar Index Hits Daily Low

Kitco News

Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices are trading moderately up and have hit a five-month high in morning U.S. dealings Wednesday. The yellow metal erased modest early losses and moved to its session high as the U.S. dollar index extended its overnight losses and hit its daily low. Buy stop orders were hit in the gold futures market when prices pushed above chart resistance at last week's high. There is also likely some position evening occurring by the shorter-term futures traders, heading into this afternoon's FOMC announcement. February gold was last up $6.80 an ounce at $1,260.20.

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.