Gold Extends Early Gains Amid Sharp Sell-Off in U.S. Dollar Index

New York (Mar 20)  Gold prices are moderately higher and have added on to early gains as the U.S. dollar index is suffering a big sell off Friday. The dollar index is poised to close at a bearish weekly low close, which would be a technical clue the dollar index has put in at least a near-term market top. Meantime, gold prices have hit a two-week high Friday morning and are in a position to close at a bullish weekly high close Friday, which would be one technical clue the yellow metal has put in a near-term market low. April gold futures were last up $13.50 an ounce at $1,182.80.

Spot silver aded more than 3% to $16.75 on increased volume, while platinum rose $14 to $1139 and palladium popped nearly $9 to $778.

Source: KitcoNews