(Kitco News) - Gold prices have pushed to their daily highs and aremoderately up in morning trading Friday. Short covering in the futures marketand some perceived value-buying in the cash market are lifting prices. Also,the U.S. dollar index has weakened a bit more since the start ofU.S. day trading, which is supportive to the precious metals. A high-rangeclose in gold Friday, combined with Thursday's close near the daily high, wouldbegin to suggest the bears are exhausted and that gold prices could then atleast trade sideways in the near term, if not sideways to higher. Augustgold was last up $6.10 at $1,230.20.
By Jim WyckoffFor Kitco News
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