Gold Again Pressured by Bearish Charts, Outside Markets
Gold prices ended the U.S. day session moderately lower Wednesday in choppy trading. The key outside markets were once again bearish for the precious metals today, as the U.S. dollar index was firmer and crude oil prices were lower. The dollar index hit a 3.5-month high today and crude oil prices are hovering near a four-month low. A firmly bearish technical chart posture for the precious metals is also keeping buyers leery.
December Comex gold was last down $5.30 at $1,085.50 an ounce. September Comex silver was last down $0.002 at $14.555 an ounce.