(Kitco News) – Gold prices are at session lows, fell below the key $1,500.00 level, and have added to early-morning losses as the U.S. stock indexes have notched record high levels and are trading with solid gains Monday morning. On this day, the risk-seekers are putting their funds into the stock market at the expense of safe-haven gold and silver markets. However, come Tuesday morning it’s likely the attention of traders and investors will be on the FOMC meeting and whether the Fed leans easy or hawkish on U.S. monetary policy at the conclusion of the meeting Wednesday afternoon. Also, the gold and silver markets are still in near-term technically bullish postures, which will likely invite some bargain hunters to step in to buy the dip soon. December gold was last down $10.90 an ounce at $1,494.20.
By Jim Wyckoff
For Kitco News
Contact jwyckoff@kitco.com
www.kitco.com
