Gold Extends Early Gains, Pushes Above $1,200

New York (Apr 1)  Gold prices are trading solidly higher and have pushed above the key $1,200.00 level in late-morning dealings Wednesday. Some weak U.S. economic data reported in the morning has weakened the U.S. dollar index and in turn has prompted more short covering and bargain hunting in gold and silver markets. A lower U.S. stock market Wednesday is also working in favor of the precious metals market bulls. June Comex gold was last up $19.40 at $1,202.50.

Source: KitcoNews