Gold powers to 6-week high on technical buying, slumping USDX

Gold powers to 6-week high on technical buying, slumping USDX

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

( Kitco News ) – Gold and silver futures prices are sharply up in midday U.S. trading Thursday, with gold notching a six-week high. The metals are boosted in part by a falling U.S. dollar index in the wake of the U.S. elections. Chart-based buying, including buy stop orders being triggered in the futures markets, was also featured today in both precious metals. Some safe-haven demand in the metals is also seen as the U.S. presidential election result is still up in the air. December gold futures were last up $53.10 at $1,949.20 and December Comex silver was last up $1.312 at $25.205 an ounce.

Traders were awaiting the conclusion of the Federal Open Market Committee (FOMC) meeting […]

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet