Gold Price Extends Early Losses To Trade Sharply Lower

New York (Apr 12)  Gold prices are sharply lower and near their daily lows in late-morning action Thursday. A return of risk appetite to the marketplace on this day has dented buying enthusiasm in the safe-haven gold and silver markets. A rally in the U.S. dollar index on this day is also prompting selling pressure in the precious metals markets. Keep in mind, however, that any flare-up in U.S.-Syria-Russia tensions will very quickly bring a bid back into gold and silver prices. And such is likely at some point, and maybe soon. June gold was last down $18.10 an ounce at $1,341.60.

By 10:30am EST spot gold was down $13 to $1,338, as spot silver slid more than 1% to $16.49. Meanwhile, spot palladium plunged $13 to $952.

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