UPDATE-At the moment only two positions are active for gold as we have already pulled all the profits our from our silver trade
Gold prices are moderately higher in midday U.S. trading Monday. However, prices have backed off their session highs. The metals are supported today by a lower U.S. dollar index and higher crude oil prices that scored a five-month high. June gold futures were last up $6.20 an ounce at $1,304.80. May Comex silver was last up $0.124 at $15.315 an ounce.
Asian and European stock indexes were mixed to slightly weaker in quieter trading overnight. U.S. stock indexes are modestly lower in New York trading. The generally weaker world stock indexes today are also a positive element for the safe-haven metals today.
There are no major geopolitical matters on the front burner of the marketplace early this week. U.S. corporate earnings reports are coming out this week. The Brexit saga continues to play out but is not impacting worldwide markets. Trader and investor attitudes are still generally upbeat, which is bullish for the world stock markets and still a bearish element for the safe-haven metals.
U.S. economic reports Monday were light but the data pace really picks up as the week progresses, including the FOMC minutes released on Wednesday afternoon.
Gold prices are moderately higher in midday U.S. trading Monday. However, prices have backed off their session highs. The metals are supported today by a lower U.S. dollar index and higher crude oil prices that scored a five-month high. June gold futures were last up $6.20 an ounce at $1,304.80. May Comex silver was last up $0.124 at $15.315 an ounce.
Asian and European stock indexes were mixed to slightly weaker in quieter trading overnight. U.S. stock indexes are modestly lower in New York trading. The generally weaker world stock indexes today are also a positive element for the safe-haven metals today.
There are no major geopolitical matters on the front burner of the marketplace early this week. U.S. corporate earnings reports are coming out this week. The Brexit saga continues to play out but is not impacting worldwide markets. Trader and investor attitudes are still generally upbeat, which is bullish for the world stock markets and still a bearish element for the safe-haven metals.
U.S. economic reports Monday were light but the data pace really picks up as the week progresses, including the FOMC minutes released on Wednesday afternoon.
