MEM METALS: June gold futures closed down $27.50 an ounce at $1,397.00 today. Prices closed nearer the session low and hit a fresh three-week low today. The key outside markets were again in a bearish posture for the gold market today as the U.S. dollar index was higher and crude oil prices were weaker. The gold bears are in near-term technical control and gained some downside momentum with today’s close below the key psychological level of $1,400.00.