Mild price pressure on gold ahead of Fed Chair Powell testimony gold silver FedChairPowelltestimony
- Gold and silver prices are slightly lower in early U.S. trading Wednesday. The marketplace is tentative just ahead of the U.S. data point of the week: testimony before Congress from Fed Chairman Jerome Powell. August gold was last down $2.50 at $1,945.30 and July silver was down $0.129 at $23.11.
Global stock markets were mostly lower overnight. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins. The S&P 500 and Nasdaq stock indexes are not far below last week’s 10-month highs and are in near-term price uptrends. U.S. economic due for release Wednesday includes the MBA mortgage applications survey, the Johnson Redbook weekly retail sales report.
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