Gold Rises on Short Covering

Gold prices are slightly higher in early action Tuesday, after scoring another three-week low in overnight dealings. Bullish fundamental news in the gold market has been scarce recently, while the overall technical posture in gold favors the bearish camp. December Comex gold was last up $2.80 at $1,283.90 an ounce. Spot gold was last quoted up $2.90 at $1286.25. December Comex silver last traded down $0.027 at $21.26 an ounce.

via Kitco

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza