Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,980.90. Bulls’ next upside price objective is to produce a close above solid resistance at the record high of $2,085.40. Prices are in a 2.5-month-old uptrend on the daily bar chart. Technically, June gold futures bulls still have the solid overall near-term technical advantage. Treasury note yield is presently fetching 3.504%. Nymex crude oil prices are higher and trading around $71.25 a barrel. The key outside markets today see the U.S. Gold ETF investment demand improved in April, but the market remains negative year-to-date In overnight news, two gold-mining companies are set to merge, as Newmont Mining is buying out Australia’s Newcrest Mining, to make the biggest gold-mining buyout deal ever and create the largest gold-mining operation in the world. Global stock markets were mixed to firmer overnight. government default on its debt obligations. Treasury Secretary Yellen said over the weekend that progress is being made between Democrats and Republicans, in order to avoid a financially catastrophic U.S. government could run out of money as soon as June 1.
Reports said congressional leaders and President Biden will likely meet Tuesday. debt-limit extension talks between the White House and Congress. June gold was last up $3.10 at $2,023.00 and July silver was up $0.121 at $24.275.įocus this week is on the U.S. government from defaulting on its debt obligations. Traders are awaiting fresh fundamental inputs as a busy data week lies ahead, including negotiations aimed at keeping the U.S.
( Kitco News) - Gold and silver prices are modestly higher in quieter midday U.S. Receive a comprehensive recap of the day's top stories directly to your inbox. Get all the essential market news and expert opinions in one place with our daily newsletter.
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