Gold Rallies To Daily High As U.S. Dollar Slumps

(Kitco News) - Gold prices are moderately higher and have hit newsession highs in late-morning action Tuesday. After some light selling pressuredropped gold prices from their overnight highs, there were traders ready tostep in to "buy the dip." The rally in the gold market also coincidedwith a solid drop in the U.S. dollar index to a new three-year low today.Februarygold was las up $5.40 an ounce at $1,337.20.

By Jim Wyckoff

For Kitco News

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