Gold Price Pushes Higher As U.S. Dollar Under More Pressure

New York (Mar 21)  Gold prices are trading modestly higher and near their session highs in late-morning action Tuesday. The U.S. dollar index has moved to sharply lower levels on the day, is near its daily low, and hit a six-week low, which is a bullish "outside market" force working in favor of the precious metals bulls on this day. The other outside market finds crude oil prices trading slightly higher after seeing moderate losses in overnight trading, and that's also a bullish daily element for the raw commodity sector. April gold was last up $3.20 an ounce at $1,237.20.

By noon EST spot gold surged $15 to $$1243, while spot silver rose nearly 1% to $17.52.

Source: KitcoNews