Gold Extends Early Gains on More Safe-Haven Demand, Short Covering
Monday January 04, 2016 10:01
(Kitco News) - Gold prices are trading sharply higher in mid-morning dealings Monday.
Rising tensions in the Middle East and a world stock market sell off Monday are prompting safe-haven buying in the yellow metal. Short covering in the futures markets is also featured, including some pre-placed buy stop orders being triggered on the up-move. Important for the gold market bulls will be for them to exhibit follow-through buying interest this week, after securing Monday's good gains. February gold was last up $19.90 an ounce at $1,080.00.
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