Disclaimer: All information on this section is of a general nature.
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Daily Resources Overview
Gold and silver prices aremoderately lower in early-afternoon U.S. trading Wednesday. Some moreprofit-taking pressure from the shorter-term futures traders was featuredtoday. A firmer U.S. dollarindex was also a bit negative for the precious metals on this day. April goldfutures were last down $6.60 an ounce at $1,322.10. May Comex silverwas last down $0.157 at $15.67 an ounce.
The safe-haven metals market bulls are closelymonitoring a geopolitical development that also has the attention of the worldmarketplace. India and Pakistan have exchanged military strikes oneach other the past two days. India bombed what it said was a terrorist camp inPakistan, with Pakistan then retaliating by shooting down two Indian warplanes, reports said. This news has Asian stock and financial markets on edge.Any escalation of this situation would prompt safe-haven demand for gold andsilver.
Despite the India-Pakistan flare-up, general traderand investor attitudes are upbeat, evidenced by U.S. stock indexes that thisweek hit three-month highs.
Brexit concerns still have European traders justslightly worried, but it appears Prime Minister TheresaMay and Parliament have agreed to extend the Brexit deadline past late-March ifa deal on the U.K. exiting the European Union is not reached.
In another sign of the low inflationexpectations in the world marketplace at present, the German government todayauctioned its 10-year bonds (bunds) for an average yield of just 0.12%. That’sthe lowest level in nearly 2.5 years. Very low inflation is the enemy of rawcommodity market bulls, including precious metals.