Gold Sharply Down, At Daily Lows, As Greenback Gains, U.S. Stock Indexes Rebounding

(Kitco News) - Gold prices have dropped to sharply lower levels on the day at middayTuesday. Solid gains in the U.S. dollar index, which is trading near its dailyhigh, and a move in U.S. stock indexes up from their daily lows are puttingdownside price pressure on the gold and silver markets. The gold futures marketis also seeing some fresh selling interest from the shorter-term traders, assell stop orders were triggered when near-term chart support levels werebreached. Aprilgold was last down $23.10 an ounce at $1,333.20.

By Jim Wyckoff

For Kitco News

Follow @jimwyckoffjwyckoff@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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