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Gold Rebounds as Outside Markets are Bulllish Today

[DEH1]

Gold Rebounds as Outside Markets are Bulllish Today

Thursday May 26, 2016 07:57

(Kitco News) -Gold prices have rebounded on some short covering and bargain hunting this morning, following strong losses that drove prices to a seven-week low on Wednesday. It's a "risk-on" day in the marketplace Thursday, as most world stock and commodity markets were higher overnight and so far in early U.S. trading. Higher crude oil prices are partly responsible for the rally in world stock and commodity markets. Brent crude oil futures pushed above the key $50-a-barrel level overnight, with Nymex futures coming within a whisker of that mark as of this writing in early U.S. dealings.