Silver and copper prices retreated Monday following sharp gains late last week that were driven by a pullback in the U.S. dollar and hopes for a rebound in...
Silver and copper prices retreated Monday following sharp gains late last week that were driven by a pullback in the U.S. dollar and hopes for a rebound in Chinese demand.Price action What’s happening A couple of factors... Silver and copper prices retreated Monday following sharp gains late last week that were driven by a pullback in the U.S. dollar and hopes for a rebound in Chinese demand.
As gold holds near its multi-week highs reached late last week, some analysts are wondering if a near-term bottom may have already arrived. “Gold prices are slightly higher in early U.S. trading Monday, but importantly are holding Friday’s strong gains that included a technically bullish weekly high close that is one chart clue that a market bottom is in place,” said Jim Wyckoff, senior analyst at Kitco.com.The ICE U.S. Dollar Index DXY , a gauge of the dollar’s strength against a basket of rivals, was off 0.3% at 110.54.
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