Silver registers marginal gains
Bullion prices finished in mixed mode on Wednesday, 10 September 2014 at Comex. Gold prices fell for a third session on Wednesday and fell to another three-month low as investors awaited more clues on the Federal Reserve's stance on the monetary policy.
Gold for December delivery shed $3.20, or 0.3%, to $1,245.30 an ounce.
December silver edged up a penny to $18.86 an ounce.
Gold rebounded earlier in the session, but the recovery lost steam as the stock market gained. Both the S&P 500 and the Dow Jones Industrial Average were in positive territory as metal trading ended.
It has not been an active week on the world economic reports front, which has kept many markets quieter. Traders and investors are already looking ahead to next week's U.S. FOMC monetary policy meeting.
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Things are also quieter on the geopolitical front this week. The Russia-Ukraine cease-fire is holding up. Reports Wednesday quoted the Ukrainian president as saying most Russian troops have now pulled away from the Russia-Ukraine border.
In overnight news, the German government auctioned 10-year notes for a record low yield of 1.05% Wednesday, and demand for the notes was very strong. The weak European Union economy and Euro currency, as well as recent geopolitical concerns, have boosted demand for the safer-haven German sovereign debt.
Economic data at Wall Street was limited to just two data points. The weekly MBA Mortgage Index fell 7.2% to follow last week's uptick of 0.2%. Wholesale inventories increased 0.1% in July following a downwardly revised 0.2% (from 0.3%) increase in June The consensus expected an increase of 0.5%. Overall, wholesale sales increased 0.7% in July after increasing by 0.4% in June 2014.
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