Comex Gold Backs Down from Daily High on Libya News, Still Higher on the Day

By Jim Wyckoff,

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(Kitco News) -Comex gold futures prices have pulled back from the daily high in mid-morning trading Friday. News that Libya has announced it will abide by the just-implemented United Nations sanctions prompted a quick drop in crude oil prices from their daily highs and boosted the U.S. stock indexes. This in turn pushed the gold market down from its daily highs. However, gold prices are still trading higher on the day. April gold last traded up $13.00 an ounce at $1,417.20.

By Jim Wyckoff of Kitco News;

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Commodities
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