Good bounce in the U.S. stock market pushes prices lower
Bullion prices ended lower on Thursday, 14 January 2016 at Comex. Gold prices were ending the U.S. day session moderately lower, with selling interest tied to a good bounce in the U.S. stock market on Thursday. A higher U.S. dollar index on this day was also a negative outside market force working against the precious metals market bulls.
February Comex gold was last down $9.30 at $1,077.80 an ounce. March Comex silver was last down $0.331 at $13.825 an ounce.
Trader and investor anxiety returned to the world marketplace overnight. Stock markets in Asia and Europe were mostly lower, following the rout in U.S. equities that occurred Wednesday afternoon. Worries about falling raw commodity prices, led by crude oil, are partly responsible for the sharp sell-offs in world stock markets early this year. Slowing economic growth from the world's second-largest economy, China, is also prompting uneasiness and is also causing turmoil in the world's periphery currency markets.
U.S. economic data released Thursday was light and included the weekly jobless claims report and import and export pricesneither of which had a significant impact on the precious metals markets.
Powered by Capital Market - Live News