Gold Drops Farther, Bears Flirting With $1,300 Mark

By Kitco News / May 01, 2018 / www.kitco.com / Article Link

Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - The gold market is seeing strong selling pressure inlate-morning price action Tuesday. The bears are working hard to push pricesbelow major psychological support at the $1,300.00 level, after having alreadysunk prices below the key 200-day moving average, basis June Comex futures. Apowerful up-move in the U.S. dollar index today, to a nearly four-month high,has the precious metals markets reeling. Junegold was last down $16.10 an ounce at $1,303.10.

By Jim Wyckoff

For Kitco News

Contactjwyckoff@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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