Gold price up as overall technicals remain friendly
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Gold prices are trading higher as the overall technical posture for the yellow metal remains bullish. Silver prices are down and hit a five-week low overnight. Asian and European stock indexes were mixed but mostly lower overnight. U.S. stock indexes are pointed toward mixed openings. The marketplace fallout from President Biden's withdrawal from the U.S. presidential race and Kamala Harris stepping in has been orderly. Traders and investors are looking ahead to late-week important U.S. economic data. The U.S. dollar index is a bit firmer. Nymex crude oil prices are slightly down. The benchmark 10-year U.S. Treasury note yield is presently 4.243%. U.S. economic reports out Tuesday include the weekly Johnson Redbook weekly retail sales report, the Richmond Fed business survey, and existing home sales. Technically, August gold bulls still have the firm overall near-term technical advantage. September silver futures bulls have the slight overall near-term technical advantage but have faded badly recently.

#Gold #Silver #StockIndexes #UsEconomicData #UsDollar #CrudeOil #TreasuryNoteYield #UsEconomicReports

https://www.kitco.com/news/article/2024-07-23/gold-price-overall-technicals-remain-friendly