Gold Extends Losses, at 2-Week Low, As U.S. Stocks Moving Up

(Kitco News) – Gold prices are trading moderately down and hit a session low and two-week low in late-morning action Friday. A recovery in the U.S. stock market from early losses and the U.S. dollar moving higher and hitting a new daily high are bearish daily elements working against the precious metals markets bulls. Technically, gold is facing a bearish weekly low close today, which would invite more chart-based selling early next week. June gold was last down $9.10 at $1,277.10.

By Jim Wyckoff
For Kitco News


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