Gold Moves To Daily Highs Amid Weak U.S. Dollar, Lower U.S. Stocks

(Kitco News) – The gold market has modestly extended early gains and its trading moderately up in late-morning dealings Monday. The yellow metal is being supported by a weaker U.S. dollar index and lower world stock markets to start the trading week. News the U.S. Deputy Attorney General Rod Rosenstein is set to be fired by President Trump could also be slightly supporting the safe-haven metal. Perceived bargain hunting in the cash market and some short covering in the futures market are featured today, amid ideas the gold market has put in at least a near-term price bottom. December gold was last up $7.00 at $1,208.50.

By Jim Wyckoff
For Kitco News


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