Gold price weaker as U.S. dollar index, bond yields rise gold silver Dollar
- Gold prices are a bit lower and silver a bit higher in early U.S. trading Tuesday. A firmer U.S. dollar index and rising U.S. Treasury yields on this day are bearish outside market elements for the precious metals markets. Some heightened risk aversion in the marketplace to start the U.S. trading week may prompt some better safe-haven for gold as the U.S. day session progresses. April gold was last down $6.40 at $1,843.80 and March silver was up $0.09 at $21.81.
In overnight news, the Euro zone got some upbeat economic news as its February composite purchasing managers index came in at 52.3, which was well above the consensus forecast of 50.5 and compares to the January reading of 50.3. A number above 50.0 suggests growth in the sector. U.S. economic data due for release Tuesday includes the U.S. flash and services purchasing managers’ indexes and existing home sales.
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