Safe-haven bids, friendlier charts powering gold rally

NEW YORK (November 21) Gold prices are solidly higher and hit a two-week high in midday U.S. trading Thursday. More safe-haven demand is featured on geopolitical tension as the Russia-Ukraine war intensifies. Technical buying has also increased this week as the near-term chart posture continues to improve for the yellow metal. December gold was last up $20.50 at $2,672.20 and December silver was down $0.125 at $30.88.

The key outside markets today see the U.S. dollar index higher. Nymex crude oil futures prices are higher and trading around $69.50 a barrel. Meantime, the yield on the benchmark 10-year U.S. Treasury note is presently around 4.4%.

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