(Kitco News) – Gold prices have rallied and are at their daily highs and have hit five-week highs in late-morning trading Thursday. U.S. stock indexes are set to open with sharp losses, on strong follow-through selling from Tuesday’s big declines. This has prompted some safe-haven demand for the gold market. If the stock market adds significantly to overnight losses, look for gold gains to be even stronger. February gold was last up $5.00 an ounce at $1,247.50.
By Jim Wyckoff
For Kitco News
Contact jwyckoff@kitco.com
www.kitco.com
