Gold price a bit weaker as bulls work to stabilize market gold silver
- Gold and silver prices are just slightly lower in early U.S. trading Wednesday, after solid losses posted on Tuesday, following hawkish remarks from the U.S. central bank chief. Silver prices hit a four-month low overnight. April gold was last down $1.40 at $1,818.70 and May silver was down $0.019 at $20.18.
Global stock markets were mixed but mostly lower overnight. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. The yield on the benchmark U.S. 10-year Treasury note is presently fetching 3.972%. The 2-year note yield pushed above 5% for the first time since 2007, presently fetching 5.038%. The 2-year – 10-year note spread is presently the widest in decades. Historically, an inverted Treasury yield curve has portended tough U.S. economic times ahead.
U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, the ADP national employment report, the international trade report, the weekly DOE liquid energy stocks report and the Federal Reserve’s beige book.
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