Precious Metals Market Summary for Wednesday April 23rd

June gold futures closed up $2.90 an ounce at $1,283.90 today. Prices closed near mid range in quieter trading today. Bears have the near term technical advantage as prices Tuesday hit a nine week low. A six week old downtrend line is also in place on the daily bar chart.

May silver futures closed up $0.059 an ounce at $19.42 today. Prices closed nearer the session low today in quieter trading. Prices are hovering near an 11 week low. The bears have the solid overall near term technical advantage. Prices are in a two month old downtrend on the daily bar chart.

May N.Y. copper closed up 90 points at 306.25 cents today. Prices closed near the session high on more short covering. Bears still have the slight overall near term technical advantage.


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