Gold Price Erases Modest Early Losses

New York (May 19)  Gold prices are trading near steady levels in late-morning action Friday, and have recovered small losses seen overnight and in earlier U.S.-session trading. Short covering in the futures market and some bargain hunting in the cash market heading into the weekend are featured. There are also some geopolitical crosscurrents in play that could be limiting selling interest in the safe-haven gold market. Comex June gold was last up $0.10 at $1,289.60.

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