Gold sees price declines amid quieter marketplace

New York (Sept 14)  Gold and silver prices are lower in early U.S. trading Tuesday, as risk aversion has receded a bit early this week amid a calm trading environment at present. The safe-haven metals bulls need a fundamental spark to jumpstart price rallies. October gold futures were last down $9.70 at $1,782.60. December Comex silver was last down $0.321 at $23.475 an ounce.

Global stock markets were mixed in quieter overnight trading. The U.S. stock indexes are pointed to slightly higher openings when the New York day session begins. On tap Tuesday is the U.S. consumer price index report for August. The CPI is forecast up 0.4% after a rise of 0.5% in July. Year-on-year the CPI is seen up 5.4% in August—the same as July.

The key outside markets today see the U.S. dollar index slightly lower. Nymex crude oil futures prices are higher, hit a five-week high, and trading around $71.00 a barrel. Meantime, the yield on the benchmark U.S. 10-year Treasury note is presently fetching 1.341%.

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