Gold Prices Reach Daily Lows As U.S. Dollar Strengthens

(Kitco News)- Gold prices are trading moderately lower in morning U.S.dealings Thursday. The yellow metal was steady to slightly lower at thestart of U.S. futures daytime trading, but have dropped as the U.S. dollarindex has pushed to its daily high and is trading moderately up. The greenbackis being supported today partly on fresh worries about secondary currencymarkets continuing to erode against the dollar. Gold bulls are presentlyfrustrated their precious metal has not responded to those concerns, at leastnot yet. December gold was last down $8.50 an ounce at $1,203.00.

By Jim Wyckoff

For Kitco News

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