Mild price pressure on gold, silver as USDX firm, U.S. bond yields rise gold silver USbondyields
- Gold and silver prices are modestly down in early U.S. trading Thursday. The precious metals are feeling the pressure of a rally in the U.S. dollar index to a four-week high overnight, and by U.S. Treasury yields that are on the rise. December gold was last down $2.40 at $1,972.60 and September silver was down $0.187 at $23.685.
Asian and European stock markets were mostly lower in overnight trading. U.S. stock indexes are pointed to slightly lower openings when the New York day session begins. Euro zone inflation continued to decline in June, as the producer price index was down 3.4%, year-on-year. That was close to market expectations. The core PPI was up 2.5%, year-on-year.
The key outside markets today see the U.S. dollar index firmer and at a four-week high. Nymex crude oil prices are near steady and trading around $79.50 a barrel. Meantime, the benchmark 10-year U.S. Treasury note yield is presently fetching 4.138%.
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