Gold prices saw slight losses in early U.S. trade
Thursday. This week's rally in the U.S. dollar index has undermined
bullish enthusiasm in the precious metals markets.
On the Comex, June gold was
last down $2.00 at $1,206.70 an ounce, while July Comex silver was last up
$0.017 at $17.13 an ounce.
Thursday marks a busy day for U.S. economic data, and precious metals markets could be more
active following the release of all reports. Markets await the weekly jobless
claims report, the Chicago Fed national activity index, the U.S. flash
manufacturing purchasing managers’ index, leading economic indicators,
the Philadelphia Fed business survey, the Kansas City Fed manufacturing
survey, and existing home sales.
The U.S. index is seeing a
corrective pullback Thursday morning, following strong gains earlier in the week.
Wednesday afternoon’s FOMC minutes somewhat undermined the enthusiasm of the greenback bulls, as the Fed does not look to be raising U.S. interest rates at the June FOMC meeting.