Gold Gains $20 On Stock Market Volatility, Weakening U.S. Dollar

(Kitco News) - Goldprices are posting sharp gains of around $20 an ounce inlate-morning action Wednesday. A volatile day in the U.S. stock market ishelping to boost safe-haven gold. U.S. stock indexes were poised to open theU.S. day session modestly up, but then dropped sharply in the immediateaftermath of a hotter-than-expected U.S. consumer inflation report. Since thenthe stock indexes have bounced back above unchanged. Meantime, the U.S. dollarindex has lost good early gains to trade lower on the day, and that is alsohelping out the precious metals market bulls. Aprilgold was last up $21.10 at $1,351.40.

By Jim Wyckoff

For Kitco News

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