Gold Price Sharply Down, At Daily Lows, As Greenback Gains, US Stock Indexes Rebounding

New York (Feb 20)   Gold prices have dropped to sharply lower levels on the day at midday Tuesday. Solid gains in the U.S. dollar index, which is trading near its daily high, and a move in U.S. stock indexes up from their daily lows are putting downside price pressure on the gold and silver markets. The gold futures market is also seeing some fresh selling interest from the shorter-term traders, as sell stop orders were triggered when near-term chart support levels were breached. April gold futures were last down $23.10 an ounce at $1,333.20.

By 1:10pm EST spot gold price was down $11 to $1,330, while spot silver slid 7 cents to $16.51.

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