Gold prices rallied to their daily highs in late-morning trading Friday. The metal was lifted to moderate gains on some short covering and bargain hunting, much of which was likely prompted by the key “outside markets”
being in a bullish posture for the precious metals–a lower U.S. dollar index and higher crude oil prices. Some position-squaring on this last trading day of the month is also likely benefiting the gold market. April Comex gold was last up $8.30 an ounce at $1,218.40.
