Gold Lower as Risk Appetite Rises

Gold prices are lower in early U.S. trading Wednesday, as risk aversion in the world marketplace has receded just a bit. Some chart consolidation and profit-taking from the shorter-term futures traders are also featured in gold and silver markets after both scored five-month highs earlier this week. June Comex gold was last down $9.10 an ounce at $1,285.00. May Comex silver was last down $0.027 at $18.245 an ounce.

European stock markets were mostly higher Tuesday on rebounds from selling pressure seen Monday. Asian stock markets were mostly weaker, following the sell-off in U.S. stocks Monday. U.S. stock indexes are pointed toward higher openings when the New York day session begins.

Still on the front burner of the world marketplace are geopolitical concerns regarding the U.S. and North Korea stand-off, and U.S.-Russia relations. U.K. Prime Minister Theresa May surprised the marketplace on Monday by calling for snap general elections in June. The first round of the French presidential elections will be held Sunday. The second round will be on May 7. European market watchers are getting more nervous as the French elections approach and polls show tight races. This uncertainty remains an underlying bullish element for the safe-haven gold market.

via Kitco

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