Gold Price Extends Overnight Losses in Thin US Morning Trading

New York (july 3)  Gold prices have added to overnight declines in morning trading action Monday. The sellers in the Comex futures market are taking advantage of thin, holiday trading conditions to push prices down and into pre-placed sell stop orders, which has exacerbated the price down-move. The U.S. dollar index is seeing a price rebound Monday, following last week's downslide, which is also a negative outside market force working against the precious metals markets. August gold futures were last down $15.50 an ounce at $1,226.80.

By 11:30am EST spot gold was already down $16 to $1,221, while spot silver was down nearly 3% to $16.14.

Source: KitcoNews