Gold Price Pushes Higher As US Dollar Sells Off Sharply

New York (July 20)  Gold prices are moderately higher and near the daily highs in late-morning action Thursday. The gold market has benefitted from a sharp drop in the U.S. dollar index, which hit a 10-month low this morning. Weaker US stock index prices today are also working in favor of the safe-haven metal. August goldwas last up $4.10 an ounce at $1,246.10.

By 11:00am EST spot gold was up $7 to $1,245, while spot silver rose 13 cents to $16.36. And while spot platinum jumped $7, palladium was still down $6 on the day.

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