Gold Price Extends Early Losses To Hit 6-Week Low; Sell Stops Triggered

New York (Apr 24)  Gold prices are trading solidly lower and have hit a six-week low in late-morning dealings Friday. Technical selling is featured, including sell stop orders being triggered in the futures market when prices fell below chart support levels. More sell stops were triggered and selling pressure accelerated when June gold futures fell below key technical support at the $1,178.20 level. June gold was last down $17.70 an ounce at $1,176.60.

Source: KitcoNews