Price pressure on gold, silver following downbeat China data gold silver GDP
- Gold and silver prices are lower in early U.S. dealings Tuesday. Some weaker economic data coming out of China has prompted increasing concerns about consumer and commercial demand for precious metals. June gold was last down $12.00 at $2,010.70 and July silver was down $0.316 at $23.975.
Asian stock markets were mixed overnight and European shares were mixed but mostly lower. U.S. stock indexes are pointed toward weaker openings when the New York day session begins. Focus today is on the scheduled U.S. debt-limit extension talks. Congressional leaders and President Biden will likely meet at the White House. The U.S. government could run out of money as soon as June 1.
The U.S. data point of the day is the April retail sales report, which is expected to come in at up 0.8% from March and compares to the 1.0% decline seen in the March sales report.
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