Gold Prices Turn Higher As Traders “Buy The Dip”

(Kitco News) – Gold and silver prices have erased modest early losses and have moved to slightly higher levels and at their session highs in morning dealings Thursday. Once again, traders have stepped in to “buy the dip” in the metals prices, which is a bullish phenomenon that occurs when prices are in an uptrend and the charts are bullish. The U.S. dollar index has also backed down from its daily high, which is encouraging a bit of buying interest in the precious metals markets. April gold was last up $1.30 an ounce at $1,315.60.

By Jim Wyckoff
For Kitco News


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