Gold, silver pressured by bearish charts, outside markets gold silver
- Gold and silver prices are moderately lower in midday U.S. trading Monday. The two markets are seeing pressure on chart-based selling as their near-term technical postures have deteriorated recently. A higher U.S. dollar index and a rise in U.S. Treasury yields to start the trading week are also bearish for the precious metals. June gold was last down $7.80 at $1,973.90 and July silver was down $0.27 at $23.79.
Asian and European stock markets were mostly higher overnight. U.S. stock indexes are mixed at midday. In focus again this week are the U.S. debt-ceiling extension talks that have so far produced no concrete results. President Biden and House leaker McCarthy are scheduled to meet on the matter later today. U.S. Treasury Secretary Janet Yellen said early June is a"hard deadline" for the U.S.
There was no major U.S. economic data due for release Monday, but the data release pace picks up fast on Tuesday.
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