- Gold and silver prices are sharply lower in early U.S. trading Wednesday, amid bearish outside market forces at mid-week that see a higher U.S. dollar index, rising U.S. Treasury yields and a drop in crude oil prices. Gold and silver bulls need to step up and show power soon in order to keep their firm near-term technical advantage. June gold was last down $35.90 at $1,983.70 and May silver was down $0.478 at $24.785.
In overnight news, Euro zone consumer price inflation in March rose 6.9%, year-on-year, which was right in line with market expectations. U.S. economic data due for release Wednesday includes the weekly MBA mortgage applications survey, the weekly DOE liquid energy stocks report and the Federal Reserve's beige book.
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