A.M. Kitco Metals Roundup: Gold Sharply Lower, Hits 7-Week Low, amid Raw Commodity Market Sell Off
Comex gold futures prices sold off sharply and hit a fresh seven-week low in early U.S. trading Tuesday, after holding modest gains overnight. Sell stops were triggered to exacerbate the selling pressure in both gold and silver markets. The “risk-off” trader and investor mentality in the market place—which has most raw commodity market prices under pressure Tuesday morning--has presently trumped the safe-haven demand that was mildly present for gold in overnight trading. The U.S. government is now partially shut down as the October 1 deadline for a government budget plan was not met by U.S. lawmakers. December Comex gold was last down $34.00 at $1,294.00 an ounce. Spot gold was last quoted down $32.60 at $1295.75. December Comex silver last traded down $0.813 at $20.92 an ounce....MOREChart School: Identify the Trend
I guess this answers the question raised last Friday: "10-Year Yield Continues Decline, Gold Should Be Rockin'":
But it's not really...
