Gold price weaker on routine profit-taking, chart consolidation gold silver
- Gold prices are moderately lower in early U.S. trading Monday. The yellow metal is pausing and seeing some normal chart consolidation after hitting a 12-month high last week. Silver prices are slightly up. Both metals are still in solidly bullish technical postures to suggest more upside for prices in the near term. April gold was last down $9.50 at $2,002.40 and May silver is up $0.087 at $25.18.
The U.S. data point of the week will be Wednesday morning’s consumer price index report for March, which is expected to show an annual rise of 5.1%, compared to a rise of 6.0% in the February report. U.S. economic data due for release Monday includes the employment trends index and monthly wholesale trade.
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