Friday December 26, 2014 8:16 AM
(Kitco News) - Gold is posting good price gains in early U.S. trading Friday, on short covering from the futures side and bargain hunting in both cash and futures. Thin, post-holiday trading conditions are likely exacerbating the bigger daily price move. Many traders and investors have checked out for the week, if not for the rest of the year. February Comex gold was last up $21.30 at $1,194.80 an ounce. Spot gold was last up $17.90 at $1,195.25. March Comex silver last traded up $0.475 at $16.185 an ounce.
Markets were mostly quiet in overnight dealings, on the day after the Christmas holiday. There were no major, markets-moving news events over the Christmas holiday. Trading volumes in many U.S. markets on Friday could be the lightest of the year, especially since there are no major U.S. economic reports due for release. London markets were closed for a holiday Friday.
The key “outside markets” (crude oil and the U.S. dollar index) were both modestly higher in early trading. U.S. stock indexes were pointed toward firmer openings Friday.
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