Gold prices down as risk appetite remains robust

New York (Jan 13)  Save-haven gold prices are weaker in early U.S. futures trading Monday. Upbeat trader and investor attitudes are working against the precious metals markets to start the trading week. February gold futures were last down $4.90 an ounce at 1,555.50. March Comex silver prices were last down $0.05 at $18.055 an ounce.

Asian and European stock markets were mixed to firmer overnight. U.S. stock indexes are pointed toward modestly higher openings when the New York day session begins. Trader and investor risk appetite is more robust to start the trading week, as the U.S. stock indexes hover close to last week’s record highs.

The U.S.-Iran conflicted has, at least for the time being, died down and the U.S. and China are this week set to sign a partial trade deal, which is likely to stimulate global economic growth in 2020.

The marketplace is keeping an eye on major protesting in Iran following the admission from the Iranian government that its military mistakenly shot down a passenger airliner last week.

The key outside markets today see crude oil prices near steady and trading around $59.00 a barrel. The U.S. dollar index is modestly up early today.

U.S. economic data due for release Monday is light and includes the employment trends index and the monthly Treasury budget statement.

Reuters