Modest downside price corrections for gold, silver

- Gold and silver prices are a bit weaker in early U.S. trading Monday, on some routine corrective, consolidative price pressure following recent gains. Gold hit a 3.5-month high and silver a four-week high last Friday. Bulls in both markets are still confident and are likely to step in to buy the dips at some point soon. December gold was last down $4.00 at $1,990.40. December silver was last down $0.144 at $23.36.

Focus of traders and investors remains on rhetoric coming from central bankers, especially the Federal Reserve. A Wall Street Journal headline today reads: “The economy was supposed to slow by new. Instead it‘s revving up.” A Barrons headline today says: “Markets are confident Fed done on rates. Why that‘s dangerous.” The Barrons story suggests inflation is still not under control and geopolitical risk remains high--underscoring there are still major risks to the global economy.

Source: Financial Digest (financialdigest.net)

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