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Gold, silver extend losses to trade sharply lower amid surging greenback, firmer U.S. equities

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold and silver prices are trading sharply down, near their session lows and have added to losses seen earlier today. The U.S. dollar index on Monday hit a new high for the year, which is helping to pressure the safe-haven metals. A higher U.S. stock market today is also a negative for the metals. The gold and silver bulls have taken a hit recently, as price uptrends on the daily bar charts have been negated. The bulls need to step up and show some fresh power soon to avoid more serious technical damage being inflicted. December gold was last down $19.50 at $1,486.90.

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