The technical charts for both metals still slightly favor the bears, so amid a lack of fresh markets-moving news overnight the short-term technical traders press their case. Lower crude oil prices are also a negative daily “outside market” for the metals. August gold was last down $2.30 at $1,931.50 and July silver was up $0.079 at $22.905.
The key outside markets today see the U.S. dollar index weaker. Nymex crude oil prices are lower and trading around $68.00 a barrel. Meantime, the benchmark 10-year U.S. Treasury note yield is presently fetching 3.735%.
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