Gold, Silver and Crude Oil Trading
US Gold futures prices finished pit trade higher in choppy, range-bound trading Wednesday.
The market is quiet this week, Summer vacation schedules reign.
December gold last traded + 2.20 at 1,615.00 oz.
Spot Gold was last quoted + 0.30 at 1,613.25 oz.
Sept Comex Silver last traded - 0.076 at 28.01 oz.
The precious metals market watchers are focusing on the Key outside markets; the USD and Crude Oil
The USD index firmed as the day progressed Wednesday. The "Greenback Bulls" faded recently.
Crude Oil prices were slightly higher Wednesday as the Bulls have upside near-term technical momentum after prices Tuesday hit 2.5-month high.
WTI Crude Oil 93.36 -0.31 ( -0.33%)
The precious metals markets will continue to look closely at how these 2 Key outside markets trade daily.
The London PM gold fix is 1,613.25 vs. the prior London PM fixing at 1,611.00.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.