dollar index has also dropped to lower price levels on the day after being firmer overnight, and that’s friendly for the metals markets.
The just-released producer price index for April came in at up 0.6% from March, which was double the 0.3% rise that was forecast.
The equities bulls are on the ropes late this week following this week’s strong selling pressure that has negated near-term price uptrends on the daily bar charts for the U.S.
Treasury note is on the rise late this week and is presently fetching around 1.68%.
Technically, June gold futures bulls have the overall near-term technical advantage amid a six-week-old price uptrend in place on the daily bar chart.
The silver bulls have the overall near-term technical advantage amid a six-week-old price uptrend in place on the daily bar chart.