Gold Price Higher Amid Bullish Outside Markets

New York (Apr 19)  Gold prices are higher in early U.S. trading, as the key "outside markets" are in a bullish posture for the raw commodity sector Tuesday. The U.S. dollar index is weaker and crude oil prices are higher, with Nymex futures back above $40.00 a barrel. China, which is the world's largest producer and consumer of gold, has begun a two-times-a-day price fixing for the precious metal. The fixing will be set in Chinese yuan per gram of gold. The move is an effort to move China to the front burner as a world markets-maker for gold. It was a quieter marketplace overnight, with European and Asian stock markets mostly firmer. U.S. stock indexes are pointed toward higher openings when the day session begins in New York.

Source: KitcoNews