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Gold Pushes Higher As U.S. Stock Market Comes Under Selling Pressure
Tuesday May 17, 2016 09:58
(Kitco News) - Gold prices have moved to moderately higher levels in late-morning trading Tuesday. Short-term, bargain- hunting traders are once again stepping in to buy the dip in prices. A weakening U.S. stock market today has also prompted some fresh buying interest in the safe-haven yellow metal. A weaker U.S.
dollar index and crude oil prices hitting a new six-month high overnight are also working in favor of the precious metals market bulls. June gold was last up $4.00 an ounce at $1,278.40.
By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com
Follow @KitcoNewsNOW
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