Gold Weaker as Raw Commodity Sector Under Pressure
Gold prices are modestly lower in early U.S. trading Monday. Recently, gold has acted more like a raw commodity than a safe-haven asset, as the raw commodity sector is slumping badly. The key “outside markets” are also in a bearish posture for gold and silver on this day, as the U.S. dollar index is higher and crude oil prices are lower. December Comex gold was last down $3.50 at $1,091.60 an ounce. September Comex silver was last down $0.07 at $14.67 an ounce.