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The Open - Jim Wyckoff

Gold Pressured as Markets Await FOMC Minutes

(Kitco News) - The key "outside markets" today find the U.S. dollar index trading firmer on a corrective bounce from recent strong selling pressure that drove prices to a seven-week low Tuesday. Meantime, Nymex crude oil prices are weaker on a corrective bounce from recent gains that saw prices hit a four-week high on Tuesday. World stock markets were narrowly mixed overnight and the U.S. stock indexes are pointed toward steady openings when the New York day session begins. Some profit-taking from recent gains has been seen the past couple days. Many world stock indexes are at or near record or multi-year highs.

By Jim Wyckoff, contributing to Kitco News; jwyckoff@kitco.com
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