Gold Prices Slip A Bit As U.S. Dollar Index Rebounds

New York (Feb 16) Gold prices have lost some of their modest early gains during morning U.S. trading action Friday. A rebound in the U.S. dollar index after it dropped to a three-year low overnight is slightly pressuring the yellow metal. Also, some mild profit-taking from this week's big gains, heading into a three-day U.S. holiday weekend, is also featured in gold. The U.S. stock market is coming under some pressure on this last trading day of the week. If volatility heats up in the stock market today, especially on the downside, such could prompt safe-haven demand for gold. April gold was last up $1.20 at $1,356.50.

By 1:50pm EST spot gold price was down $7 to $$1,351, while spot silver dropped more than 1% to $16.75. Contrariy, spop palladium soared $27 to $1,046.

Spot gold price: https://www.gold-eagle.com/rate/price-of-gold/

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