Gold Hits Daily High And 3-Month High Following Weaker U.S. Data

February 8, 2016

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Gold prices are trading moderately higher, near the session high and have hit another three-month high in late-morning dealings Wednesday. A weaker-than-expected U.S. ISM non-manufacturing report gave the gold market a moderate boost after prices were holding slight gains before the report. Solid losses in the U.S. dollar index and firmer crude oil prices are also bullish “outside markets” that are working in favor of the precious metals bulls on this day. April gold was last up $7.20 an ounce at $1,134.50.

By Jim Wyckoff, contributing to Kitco News;
Follow me on Twitter @jimwyckoff

Category: Gold