Gold Extends Early Gains as Bulls Gain Momentum

December 3, 2014

New York (Dec3)  Gold prices are trading at their daily high in late-morning dealings Wednesday. Short covering and bargain hunting are featured on the push higher. A modest rally in the crude oil market is also supportive to the gold bulls' cause. The gold bulls are having a good week and have gained some upside technical momentum. A move in February Comex futures prices above solid chart resistance at this week's high of $1,221 would likely set off buy-stop orders in the futures market to push prices still higher.

February gold was last up $14.00 an ounce at $1,213.00.

Source: KitcoNews

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