Gold Hits Daily Low Amid Bearish "Outside Markets," Chart Selling
(Kitco News) - Gold prices are trading moderately lower and are at their daily lows in late-morning action Wednesday. The key outside markets are in a bearish posture for the precious metals on this day, as the U.S. dollar index is firmer and crude oil prices are lower. The technical posture for gold remains bearish, which continues to invite the chart-based sellers to the short side of the futures market. December gold was last down $5.40 an ounce at $1,228.10.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.