Gold Extends Overnight Gains, Trades Solidly Higher And Back Above $1,200

(Kitco News) – Gold prices have added on to overnight gains to trade solidly higher and back above $1,200.00 in early morning dealings Tuesday. Safe-haven demand due to renewed concerns about the overall health of the European Union amid a new anti-establishment government in Italy has helped to boost gold today. Also, some short covering in the futures market by the shorter-term traders is featured, as well as some perceived bargain-basement buying interest following recent selling pressure. December gold was last up $14.80 an ounce at $1,206.50.

By Jim Wyckoff
For Kitco News


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