Gold Higher As USD Suffers Losses

Gold futures have pushed to moderately higher levels in late-morning trading Tuesday. More follow-through short covering in the futures market and bargain hunting in the cash market, following the big gains scored Monday, are featured today. The gold market got a boost when the U.S. dollar index extended its early losses to trade solidly lower on the day. There continues to be some safe-haven buying interest in the gold market amid the ongoing debt negotiations between Greece and the European Union/International Monetary Fund–which are not going well. June gold was last up $6.60 an ounce at $1,209.90.

via Kitco

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