Gold price near steady as busy data week lies ahead gold silver
- Gold prices are holding around unchanged and silver prices are solidly up in early U.S. trading Monday. Gold traders are pausing ahead of a very important week for economic data releases. The marketplace is so far taking in stride the weekend news of the second-largest U.S. bank failure in history. June gold was last down $1.70 at $1,997.40 and July silver was up $0.299 at $25.525.
The U.S. government over the weekend took over the troubled First Republic Bank and then sold it to JP Morgan. First Republic’s demise is the second-largest U.S. bank failure ever, after Washington Mutual’s collapse in 2008. The news was not a big shock to the marketplace, following last week’s dismal earnings report from First Republic and the bid drop in its stock price recently.
The key outside markets today see the U.S. dollar index higher. Nymex crude oil prices are lower and trading around $75.00 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.462%.
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