(Kitco News) – Gold prices are trading moderately up and are at session highs in late-morning action Wednesday. The near-term technical posture for the yellow metal remains bullish, which has invited some fresh chart-based buying interest. The recent “collapse in volatility” on the daily bar chart for gold prices–whereby the past few trading sessions have seen smaller daily trading ranges–suggests a bigger price move is right on the horizon. February gold futures were last up $4.70 an ounce at $1,293.30.
By Jim Wyckoff
For Kitco News