A.M. Kitco Metals Roundup: Gold Lower, at 6.5-Mo. Low on Weak-Long Liquidation, More Technical Pressure
(Kitco News) - Gold prices are solidly lower and hit another fresh 6.5-month low in early U.S. trading Wednesday. Weak longs who are presently well under water in their trades are feeling severe pain and being forced to liquidate. This, along with fresh technical selling pressure, has both gold and silver markets reeling at present. April gold last traded down $11.80 at $1,592.40 an ounce. Spot gold was last quoted down $11.60 at $1,593.50. March Comex silver last traded down $0.287 at $29.135 an ounce.