Gold Price Pushes To 5-Wk. High As Traders "Buy The Dip"

New York (Mar 26)  Gold prices are modestly up and hit a five-week high in mid-morning trading Monday. After some overnight weakness, traders stepped in to buy the dip in prices. The gold market is also getting a lift from a weaker U.S. dollar today, as the U.S. dollar index has dropped to a five-week low. April gold was last up $2.60 an ounce at $1,352.60.

By 12 noon EST spot gold was up $7 to $1,355, while spot silver rose 15 cents to $16.75. However, spot platinum and palladium were virtually flat on the day.

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