Gold Price Pushes Back Above Unchanged As US Dollar Weakens

~~Gold prices have erased modest losses that occurred in the immediate aftermath of some upbeat U.S. economic data that was released Wednesday morning. The yellow metal has firmed up and has moved above steady levels on the day as the U.S. dollar index has lost most of its earlier gains and is trading near steady. On a daily timeframe basis, gold prices can be pushed in the opposite direction of price moves in the U.S. dollar index. April gold was last up $1.90 an ounce at $1,227.30.

By 12 noon spot gold was up nearly $6 to $1230, while spot silvewr was up a mere 3 cents to $17.94.

Source: KitcoNews