In the late morning trading on Tuesday, gold futures strengthened by selling pressure. Exchange traded funds (ETFs) last added selling pressure to the gold market on Tuesday.
London previous P.M. fix was at $1,469.25 versus the A.M. gold fix at $1,469.25
ETF “bearish” news is featured on top of all reports; it showed investors departure in gold supported ETFs through the first quarter of this year. June Gold futures bears still have the largely technical advantage.
On Tuesday morning, the USD index is weak, which is preventive to the downside price pressure in gold and silver. While also on Tuesday morning, Nymex crude oil futures prices are a touch lower. That made gold drive into a bearish outside market.