Gold Sees Tepid Short-Covering Bounce; Bears Still in Control

Gold prices ended the U.S. day session modestly higher on short covering and an upside technical correction after hitting a nine-month low Wednesday. However, the strong U.S. dollar and the overall bearish raw commodity sector at present are still giving the precious metals bulls fits. December Comex gold was last up $3.00 at $1,214.70 an ounce. Spot gold was last quoted up $5.30 at $1,214.50. December Comex silver last traded up $0.173 at $17.23 an ounce.

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