Gold Extends Losses As U.S. Dollar Index Rallies
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(Kitco News) - Gold prices have extended earlier losses and are now moderately lowerin late-morning trading Tuesday. Gold starting slipping lower when the U.S. dollar index started to rally and the USDX is now tradingat its session high. Prepared text from Fed Chairman Jerome Powell, releasedabout two hours ago, was deemed just a bit hawkish on U.S. monetary policy,which helped to boost the U.S. dollar index. Traders are closely listening toU.S. House of Representatives question Powell. Aprilgold futures were last down $8.50 an ounce at $1,324.30.
By Jim WyckoffFor Kitco News
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