Gold sees slight price gains as bulls buy the dip gold silver
- Gold prices have recovered modest overnight losses and are holding slight gains in early U.S. trading Tuesday. Silver prices are lower. Gold is seeing some buying interest from bargain hunters buying the dip and as U.S. Treasury yields have declined a bit this week. However, a higher U.S. dollar index and lower crude oil prices are negative daily influences on the metals markets that are limiting buying interest in gold. June gold was last up $2.80 at $2,002.60 and May silver was down $0.
Risk appetite has not been robust recently, amid worries about a"higher for longer" Fed interest rate cycle. There are still marketplace concerns about a U.S. economic recession being on the doorstep. The clues are there, including an inverted U.S. Treasury yield curve. Reads a Wall Street Journal headline today: "Sliding diesel prices signal warning for U.S. economy.
The key outside markets today see the U.S. dollar index modestly higher. Nymex crude oil prices are lower and trading around $77.75 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.443%.
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