Gold, Silver Prices At Daily Highs As U.S. Dollar Index At Daily Low
(Kitco News) - Gold and silver prices are holding solid gains and are trading near their session highs in late-morning action Tuesday. Gold is closing in on the key psychological resistance level of $1,300.00. The depreciating U.S. dollar index early this week is a main supportive element for the precious metals markets. Gold and silver prices are also benefitting from some new safe-haven demand amid geopolitical tensions that are rising. Short covering in the futures markets is also featured early this week--whereby weak-handed short sellers have to bail out of their losing positions by buying back their futures contracts. December goldwas last up $10.70 an ounce at $1,295.80.