Gold Price Hits 2-Week High as U.S. Dollar Index Continues To Slide

New York (Sept 22)  Gold prices are trading near their daily highs in late-morning dealings Thursday. The precious metals are being boosted by a slumping U.S. dollar index. The greenback has not fared well at all in the wake of a perceived dovish FOMC statement issued Wednesday afternoon. The other key outside market is also favoring the precious metals bulls Thursday, as Nymex crude oil prices are trading higher on the day. December gold futures were last up $11.60 an ounce at $1,343.10.

Spot silver rose over 1% to $20.03 - as platinum surged $11 to $1,063 and palladium popped nearly $12 to $700.

Source: KitcoNews