Gold, silver see price pressure amid higher USDX, lower crude gold silver
- Gold and silver prices are lower in early U.S. trading Tuesday. A higher U.S. dollar index and lower crude oil prices are negative daily influences on the metals markets. However, gold is seeing its selling pressure limited by a dip in U.S. Treasury yields early this week. June gold was last down $7.80 at $1,992.00 and May silver was down $0.441 at $24.865.
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 $78.25 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.443%.
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