METALS: June gold futures closed down $6.90 an ounce at $1,287.70 today. Prices closed nearer the session low today. A firmer U.S. dollar index helped to pressure gold today. Trading has been choppy and sideways for the past five weeks. Gold market bulls and bears are on a level near-term technical playing field.
July silver futures closed down $0.069 an ounce at $19.33 today. Prices closed nearer the session low. The bears have the overall near-term technical advantage. However, recent choppy and sideways trading at lower price levels does suggest some basing that could mean a market low is in place.
Bullion Market Report As On May 22, 2014