Update: Comex Gold Under Moderate Pressure from Firmer U.S. Dollar Index
Thursday September 26, 2013 10:39 AM
(Kitco News) - Comex gold futures prices are trading moderately lower and nearer the daily low in late-morning dealings Thursday. The U.S. dollar index rallied in the wake of a better-than-expected U.S. weekly jobless claims report, which in turn put some added downside price pressure on gold. Gold prices remain trapped below a four-week-old downtrend line on the daily bar chart.
December gold last traded down $9.10 at $1,326.60 an ounce.
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By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com