A.M. Kitco Metals Roundup: Gold Pops Higher Following U.S. GDP Contraction; FOMC Awaited
Gold prices are trading solidly higher and near the daily high Wednesday morning, in the immediate aftermath of a weaker-than-expected U.S. gross domestic product report. Some more short covering and bargain hunting buying interest are featured. The key outside markets are also in a bullish posture for the precious metals Wednesday morning, as the U.S. dollar index is lower and crude oil prices are higher. February gold last traded up $13.20 at $1,674.00 an ounce. Spot gold was last quoted up $2.30 at $1,666.75. March Comex silver last traded up $0.496 at $31.68 an ounce.