Gold Solidly Up, At Session High, As USDX Hits Daily Low

(Kitco News) – Gold prices are posting solid gains and are at their daily highs in mid-morning action Friday. The yellow metal extended early gains as the U.S. dollar index is trading down on the day. Some bargain hunting and technical buying are also featured in the gold market following some recent selling pressure. Now, gold prices are poised to close at a technically bullish weekly high close today, which would likely invite some follow-through buying interest early next week. February gold futures were last up $11.20 an ounce at $1,291.00.

By Jim Wyckoff
For Kitco News

Follow @jimwyckoff

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