Gold futures closed down $5.80 at $1,105.50 today. Prices closed nearer the session low today and were pressured by a firmer U.S. dollar index. Gold prices are still in a four week old downtrend on the daily bar chart. Bulls and bears are presently on a level near term technical playing filed.
Silver futures closed down 5.2 cents at $17.335 an ounce today. Prices closed near mid range today on a corrective pullback from strong gains scored on Monday. Bulls still have the slight near term technical advantage in silver.
Copper closed up 220 points at 355.75 cents today. Prices closed near the session high today and hit a fresh 20 month high. The copper market this week has been boosted by tightening warehouse supplies and by fresh speculative buying interest. The copper market bulls have the solid overall near term technical advantage.
The U.S. dollar index closed up 12 points at 81.74 today. Prices closed near the session high today. The bulls still have the solid overall near term technical advantage. Bulls' next upside price objective is to close prices above solid technical resistance at 83.00.
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