Comex Gold Extends Early Losses amid Bearish Outside Markets; Options Expiry Nears
By Jim Wyckoff
Comex gold futures prices have extended losses seen earlier in the trading session and are solidly lower in late-morning trading Tuesday. The key “outside markets” have taken on a more bearish posture for the precious metals Tuesday, as the U.S. dollar index has moved above unchanged and is trading near its daily high, while crude oil futures prices are trading lower and near their session low. Tuesday is also the last trading day for the July Comex gold options, and their expiry could be adding to the selling pressure in gold futures. August gold last traded down $17.70 at $1,570.80.