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.
via Kitco
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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