Gold, silver extend early declines to trade sharply lower, as U.S. stock market rallies

(Kitco News) – Gold and silver prices are sharply lower and have at least temporarily lost their recent safe-haven bid in morning dealings Thursday, as the U.S. stock market is rallying and the stock indexes are sharply higher on the day. News the U.S. and China will restart their trade talks in October has injected fresh investor optimism into the marketplace–at least for now. From a technical perspective, gold and silver are just seeing normal and even healthy corrective pullbacks in solid near-term price uptrends on the charts. December gold was last down $21.50 at $1,538.90.

By Jim Wyckoff
For Kitco News


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