Gold prices have dropped to session lows in mid-morning U.S. dealings Wednesday. Early selling pressure was intensified when prices dropped to a fresh three-week low, triggering sell stop orders in the futures market. The risk-on trading day in the market place and bearish “outside market” forces (firmer U.S. dollar index and weaker crude oil prices) are working against the gold market bulls Wednesday. December gold was last down $10.40 an ounce at $1,110.60.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.