Comex gold is trading lower on the day but has pushed off session lows
Comex gold is trading lower on the day but has pushed off session lows, Dow Jones reported.
Most-active gold futures for June delivery is trading down $2.80 at $598.50 an ounce, while May silver is up 1.3 cents at $12.65 an ounce.
John Person of National Futures says metals are holding up well considering they are seeing a loss on the day. "Gold moved off the lows in resilient fashion and the market is taking pause for consolidation but it is retaining its advancement. There are been no dramatic sell-offs," says Person.
He adds that gold is likely to take out the
$625 an ounce level and silver the $14-$15 level in the coming weeks. "