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Gold and silver prices are trading lower in early US trading, as some normal chart consolidation is occurring following recent strong gains that last week pushed gold prices to a 7,5-year high and silver to a four-week high. Gold and silver bulls still have the near-term technical advantage to continue to suggest the path of least resistance for prices will be sideways to higher. June gold futures were last down $6,70 an ounce at $1,746.20. May Comex silver prices were last down $0,273 at $15,78 an ounce.
Global stock markets were mixed to weaker in overnight trading. US stock indexes are pointed toward lower openings when the New York day session begins. The US stock indexes have seen near-term price uptrends develop, which suggest at least near-term lows are in place. — Kitco News.
Peter Tanyanyiwa
Online Reporter