Gold and silver futures are lower, pulling back from the record highs found by both metals yesterday.
A turn in the U.S. dollar is pressuring these metals, says John Caruso of RJO Futures in a note. However, Caruso notes, the long-term trend for the USD is lower, which in turn means that precious metals have room to resume their gaining ways.
“We’re going to continue to look at grossing up metals from range lows when we get them,” he says. Both metals are now paring deeper losses seen in morning trade.
add a comment
