Gold Sharply Lower, Hits 5.5-Year Low; Plenty of Bearish Elements, Scant Bullish Factors

Gold prices ended the U.S. day session solidly lower Monday and hit a five-year low of $1,080 an ounce, basis Comex futures, in Asian trading. Prices did bounce off the lows by the time U.S. trading started, but still traded solidly lower on the day. August Comex gold was last down $24.60 at $1,107.40 an ounce. September Comex silver was last down $0.029 at $14.805 an ounce.

Source: Kitco