Oddbean

Gold rallies on bullish outside-market forces ========== Gold prices are trading higher due to bullish outside-market forces, including a lower U.S. dollar index, lower U.S. stock index prices, higher crude oil prices, and stabilized U.S. Treasury yields. Silver prices are also slightly up. The stock market's decline is seen as a bullish development for the precious metals market. Traders are looking ahead to important U.S. economic data later in the week. August gold is up $14.80 at $2,422.00, and September silver is up $0.064 at $29.39. The U.S. dollar index is down, crude oil prices are higher, and the 10-year U.S. Treasury note yield is 4.233%. Gold bulls have the near-term technical advantage, with the next upside price objective at $2,488.40. Silver bulls have the slight overall near-term technical advantage, with the next upside price objective at $31.00. #Gold #Silver #PreciousMetals #UsDollar #StockMarket #CrudeOil #UsTreasury #EconomicData https://www.kitco.com/news/article/2024-07-24/gold-rallies-bullish-outside-market-forces