Gold prices up, bulls remain powerful

Gold prices are modestly higher in early U.S. trading Friday amid a steady flow of safe-haven and chart-based buying. Silver is near steady this morning but the bulls in that market have had a good week, with prices closing in on $20.00. August gold futures were last up $6.20 an ounce at $1,806.60. September Comex silver prices were last down $0.013 at $19.56 an ounce.

Global stock markets were mixed in overnight trading. The U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. Traders and investors this week were trying to weigh conflicting forces: the bearish aspects of rising Covid-19 cases that may force more businesses to close again, as well as escalating U.S.-China tensions, and the bullish specter of major global economies that are recovering from pandemic shutdowns faster than most had reckoned. Notions that a vaccine for Covid-19 is coming much sooner that experts had initially predicted are also a bullish element for global stock markets.

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