(Kitco News) - Gold prices ended the U.S. day session sharply higher Thursday and hit a two-week high near $1,300.00. The precious metals and the rest of the market place got some bullish news from the latest “Fed speak” that also pushed the U.S. dollar index sharply lower. The gold and silver markets bulls started to regain some upside near-term technical momentum Thursday, but still have more work to do in the near term to suggest any price uptrends can be sustained. August gold was last up $32.40 at $1,279.70 an ounce. Spot gold was last quoted up $18.20 at $1,281.50. September Comex silver last traded up $0.80 at $19.965 an ounce.
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