Gold And Silver Prices Lifted Slightly By Weaker US Dollar

New York (Apr 9)  Gold and silver prices were slightly higher in midday trading Monday. The precious metals saw modest support from a weaker U.S. dollar index on this day. Buyers of the safe-haven metals were squelched by a solid rally in the U.S. stock market today. June Comex gold futures were last up $0.70 an ounce at $1,336.80. May Comex silver was last up $0.078 at $16.344 an ounce.

There was better investor risk appetite in the marketplace to start the trading week. The U.S.-China trade dispute has simmered down a bit. Trump administration officials are now saying that trade sanctions against China are not imminent and there is time to work out a solution to avoid a full-blown trade war between the world’s two largest economies.

Somewhat surprisingly the safe-haven metals markets did not react significantly to reports of missile strikes on the Syrian military overnight, after weekend reports that the Syrian army has used poison gas on its civilians. Reports said the missile strikes came from Israeli jets. President Trump on Sunday called out Russian President Putin and put blame on him for the gassing, and said he would pay. Today, Trump said he is mulling his options on the matter.

The key “outside markets” on Monday morning saw the U.S. dollar index lower on a corrective pullback from recent good gains. The greenback hit a five-week high last Friday. Meantime, Nymex crude oil prices are solidly higher and trading above $63.00 a barrel.

There was no major U.S. economic data released Monday.

KitcoNews