Gold Closes in on Major Psychological Support

Kitco News-- Gold ended the U.S. day session moderately lower, near the session low and dropped to another four-week low Wednesday. However, Todd ‘Bubba’ Horwitz, chief market strategist with the Adam Mesh Trading Group, says he is still a buyer of the metal in the ‘face of all the bad news that is in the market.’ Some hawkish ‘Fed speak’ and upbeat U.S. economic data hit the precious metals markets today. Gold prices are now closing in on major psychological support at the $1,100.00 level.

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