Gold Extends Early Losses As USDX Moves To Daily High

(Kitco News) – Gold prices are solidly lower and back below the key $1,200.00 level in late-morning action Friday. The yellow metal added to early losses when the U.S. dollar index moved up to its session high and is presently holding decent gains. Scant risk aversion in the marketplace and an overall bearish chart posture are bearish elements that continue to work against gold. December gold was last down $11.60 an ounce at $1,199.70.

By Jim Wyckoff
For Kitco News


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