Fundamental Techs
Gold, Silver Prices Firmer On Corrective Rebounds
11-12-2017 20:16:48

 Gold and silver prices are modestly higher in early U.S. trading Monday. Both metals are seeing corrective bounces after strong recent selling pressure that last Friday drove prices to nearly five-month lows. Risk-on trader and investor attitudes in the world marketplace continue to squelch buying interest in the safe-haven gold and silver markets. February Comex gold was last up $3.40 an ounce at $1,251.80. March Comex silver was last up $0.047 at $15.87 an ounce.An explosion in New York City which recently occurred, and which appears not to be an accident, has so far not had a significant impact on markets. Early reports show a few injuries from the explosion, and that a suspect is in custody.World stock markets were mostly higher overnight. U.S. stock indexes are also pointed mixed openings when the New York day session begins. There continues to be a general "risk-on” trading attitude in the world marketplace that is boosting equity markets.It’s a big week for economic events, as monetary policy meetings of the U.S. Federal Reserve, the European Central Bank and Bank of England take place this week.The key "outside markets” Monday morning see the U.S. dollar index higher weaker on a corrective pullback from recent good gains. Meantime, Nymex crude oil futures prices are slightly lower. The price uptrend in crude oil has stalled out, which suggests a near-term market top is in place.