Treasury 10-year note is currently around the 0.7% level. The important outside markets today see Nymex crude oil prices lower and trading around $39.50 a barrel. This is just the latest piece of data suggesting major global economies are healing much faster than most economists had expected. “German business sees light at the end of the tunnel,” said the Ifo report. In other overnight news, Germany’s closely watched Ifo business sentiment index rose by a record amount in June, coming in at 86.2 from 79.7 in May. Gold prices are also being boosted on notions the easy-money-infused major economies of the world are presently only on “sugar high” rebounds and a sober reckoning will occur down the road. This has intensified the debate on whether the rise in infections will result in a renewed lockdown of businesses that would mean further damage to recovering economies. Trader and investor risk sentiment is less upbeat at mid-week, amid a troublesome rise in Covid-19 infections in some parts of the world, including some U.S. stock indexes are pointed toward lower openings when the New York day session begins. July Comex silver prices were last down $0.183 at $17.88 an ounce.Įuropean stock markets were down in overnight trading, while Asian bourses were mixed.
August gold futures were last up $5.40 an ounce at $1,787.10. Importantly, the technical charts for gold and silver are fully bullish (especially in gold), suggesting still more upside price potential for both metals in the near term. Safe-haven demand is featured this week amid a troubling rise in Covid-19 infections around the globe. trading Wednesday after pushing to a 7.5-year high of $1,796.10 overnight, before backing off a bit. ( Kitco News) - Gold prices are modestly higher in early U.S. Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions.
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