Tuesday, July 12, 2011

Comex Gold Turns Higher on Day as U.S. Dollar Index Backs Off, Crude Oil Rallies

Comex gold futures prices have moved modestly higher in late-morning dealings Tuesday. The U.S. dollar index has backed well off its daily high and crude oil futures prices have rallied above unchanged on the day--both of which helped push gold prices higher. Safe-haven buying interest is also featured in gold, amid the deteriorating situation regarding the European Union sovereign debt crisis. August gold last traded up $4.30 an ounce at $1,553.50. December silver last traded down 25.4 cents an ounce at $35.46. (kitco.com)

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