Gold & silver are now trading at:
(Kitco News) – Gold and silver futures prices are sharply lower and have careened to better-than-2.5-year lows in early U.S. trading Thursday. The market place sees traders and investors in a keen “risk-off” mentality following Wednesday’s U.S. Federal Reserve events. Fresh, serious technical damage has been inflicted in the gold and silver markets to suggest they will see still more downside price pressure to come. Comex August gold last traded down $70.10 at $1,303.90 an ounce. The August contract traded down to a low of $1,285.00 in overnight trading. Spot gold was last quoted down $46.40 at $1,305.25. July Comex silver last traded down $1.458 at $20.165 an ounce. July silver hit a low of $19.64 in overnight trading.
Asian and European stock markets slumped overnight. U.S. stock indexes are also solidly lower Thursday morning. Most raw commodity markets are getting hit hard Thursday.
Importantly, world bond markets are also seeing serious selling pressure Thursday. The U.S. dollar index has rallied sharply after early Wednesday hitting a four-month low.