Gold Price Sells Off, Hits New Low For The Week, As U.S. Dollar Firms

New York (Mar 16)  Gold prices have lost modest early gains and are trading moderately lower and hit a two-week low in late-morning action Friday. The gold market started to slip when the U.S. dollar index pushed above unchanged and moved to its daily high. The gold market is now poised to close at a technically bearish weekly low close today, which would also then suggest more selling pressure early next week. If present losses are sustained into the close, then the April gold futures price would also close at the lowest closing level of 2018. April gold was last down $3.70 an ounce at $1,314.10.

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