P.M. Kitco Metals Roundup: Gold Sharply Lower on Bearish FOMC Minutes, Surging U.S. Stock Market
(Kitco News) - Gold prices ended the U.S. day session sharply lower Wednesday as traders gave a bearish read to an unexpectedly early release to the U.S. Federal Reserve’s FOMC minutes. A push in the U.S. stock indexes to new record highs again funneled more money away from other investment classes, including safe-haven gold and silver. Chart-related selling was also featured Wednesday as gold and silver market bears remain in near-term technical control. June Comex gold last traded down $25.50 at $1,561.20 an ounce. Spot gold was last quoted down $23.40 at $1,562.00. May Comex silver last traded down $0.211 at $27.67 an ounce.