Gold Extends Early Losses As USDX Moves To Daily High

(Kitco News) - Gold prices are solidly lower and back below the key $1,200.00 levelin late-morning action Friday. The yellow metal added to early losses when theU.S. dollar index moved up to its session high and is presently holding decentgains. Scant risk aversion in the marketplace and an overall bearish chart postureare bearish elements that continue to work against gold. December gold was last down $11.60 an ounce at $1,199.70.

By Jim Wyckoff

For Kitco News

Follow @jimwyckoffjwyckoff@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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