Gold price weaker as risk aversion recedes ahead of FOMC gold silver FOMC
- Gold prices are lower and silver near steady in early U.S. trading Tuesday. Some mild profit-taking pressure from the shorter-term futures traders is featured as trader and investor risk appetite has up-ticked just a bit so far today. April gold was last down $12.00 at $1,970.40 and May silver was down $0.026 at $22.62.
Global stock markets were mixed to higher overnight. U.S. stock indexes are pointed toward higher openings when the New York day session begins. Risk appetite is a bit better so far Tuesday as the U.S. and European banking turmoil continues to play out. Reports say JP Morgan bank chief Jamie Dimon is helping the troubled First Republic Bank through its crisis of investor/depositor confidence.
U.S. economic data due for release Tuesday includes the weekly Johnson Redbook and chain store retail sales reports, and existing home sales.
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