Friday, 24 May 2013

Forbes: P.M. Kitco Metals Roundup: Solid Gains For Gold On Safe-Haven Demand, Short Covering

Comex gold futures prices ended the U.S. day session sharply higher Thursday. The “risk-off” trader attitudes in world the market place Thursday prompted good safe-haven demand—something the yellow metal has not experienced in quite some time and an indication the gold bulls are showing resilience. Short covering was also featured Thursday. Comex June gold last traded up $23.30 at $1,390.70 an ounce. Spot gold was last quoted up $22.50 at $1,392.75. July Comex silver last traded up $0.048 at $22.52 an ounce.

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