Gold hits daily high on more short covering amid slightly weaker U.S. stock indexes
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(Kitco News) - Gold prices are trading moderately up in late-morning action Thursday, supported by more short covering from futures traders and by some perceived bargain hunting after gold prices fell to three-month lows earlier this week. The gold market bulls still have some heavy lifting to do in the near term to get their metal back in good technical shape on the charts. December gold was last up $8.70 at $1,471.80.
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