(Kitco News) - Gold prices are trading near steady levels in the early going Tuesday, but did hit another fresh five-week low overnight. Gold has seen some intensified technical selling pressure early this week. The U.S. dollar index moving to a four-week high Tuesday is also a bearish underlying factor for the gold and silver markets. April gold last traded up $0.20 at $1,649.30 an ounce. Spot gold was last quoted up $0.30 at $1,649.00. March Comex silver last traded steady at $30.91 an ounce.
News that North Korea has detonated another nuclear bomb underground, in defiance of United Nations sanctions, had little impact on the market place overnight. However, North Korea’s rogue status on the world stage could quickly flare up into an international incident, which would prompt investor demand for perceived safe-haven assets like gold.
http://www.forbes.com/sites/kitconews/2013/02/12/a-m-kitco-metals-roundup-gold-trades-near-steady-after-hitting-4-week-low-overnight/
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