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Gold Update: Gold Extends Early Gains as U.S. Dollar Index Slumps

Monday June 3, 2013 11:27 AM

(Kitco News) - Comex gold futures have moved to their daily highs in late-morning trading Monday, including pushing back above the key $1,400.00 level. The U.S. dollar index has dropped to its daily low and is trading with solid losses on the day, which has prompted more buying interest in gold and silver markets. The green back was pressured by some downbeat U.S. manufacturing data released Monday morning. August gold last traded up $20.00 an ounce at $1,413.20.

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By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com

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 precious metal products, 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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