(Kitco News) – Gold prices ended the U.S. day session modestly higher and hit another three-month high Wednesday. Prices are trending higher on the daily chart and the bulls are enjoying the near-term technical advantage for the first time in months. April gold was last up $4.20 at $1,294.00 an ounce. Spot gold was last quoted up $3.30 at $1,294.75, and March Comex silver last traded up $0.167 at $20.32 an ounce.
Traders and investors on Wednesday were still buzzing about U.S. Federal Reserve Chair Janet Yellen’s inaugural testimony on monetary policy to the Congress Tuesday. Yellen’s remarks were deemed friendly for the gold market and other raw commodity markets, as well as the U.S. stock market.
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Watch part of Fed Chair Janet Yellen’s testimony at marketwatch.com
Photo courtesy of marketwatch.com