Modest price pressure on gold, silver, amid bearish outside mkts
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Gold and silver prices are weaker again in early U.S. trading Wednesday, on routine corrective pullbacks and some profit taking following recent solid gains that saw gold hit a record high of $2,454.20 an ounce, basis June Comex futures on Monday, and silver hit an 11-year high of $32.75 an ounce, basis July Comex futures. Bearish daily “outside market” forces are also squelching the precious metals market bulls at mid-week. The U.S. dollar index is higher and crude oil prices are lower. Meantime, U.S. Treasury yields have up-ticked today. June gold was last down $11.20 at $2,414.80. July silver was last down $0.263 at $31.815.

#Gold #Silver #PricePressure #BearishMarkets

https://www.kitco.com/news/article/2024-05-22/modest-price-pressure-gold-silver-amid-bearish-outside-mkts