Gold Traders "Buy the Dip," Push Prices Higher

(Kitco News)- Gold prices are moderately up and at their daily highs inlate-morning action Monday. Overnight losses were seen as a buying opportunityby many traders--especially after the solid gains on Friday that produced atechnically bullish weekly high close in prices. The U.S. dollar index has alsodropped lower and is trading near its session low at present, which is alsobenefitting the precious metals market bulls. December gold was last up
$5.00 an ounce at $1,218.30.

By Jim Wyckoff

For Kitco News

Follow @jimwyckoffjwyckoff@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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