FXstreet

Gold prices are sharply higher and are challenging the key $1,100.00 level in early U.S. trading Friday. More safe-haven buying interest and short covering in the futures market are featured as the U.S. stock market is poised to open up sharply lower. There is also more uncertainty as U.S. traders and investors head into a three-day holiday weekend. The U.S. dollar index is solidly lower on this day, which is also working in favor of the precious metals market bulls. February Comex gold was last up $21.00 at $1,094.60 an ounce. March Comex silver was last up $0.342 at $14.095 an ounce.

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