DJ PRECIOUS METALS: NY Gold Seen Down $1, Silver Down 16 Cents
June gold futures are expected to open floor trading in
New York around $1 an ounce lower Monday, based on electronic activity ahead of
the pit session at the Comex division of the New York Mercantile Exchange. July
silver is expected to be down about 16 cents an ounce.
At 7:53 a.m. EDT, spot gold was trading down $1.45 to $929.25.
In overnight activity, spot gold eased as the dollar strengthened and oil
prices declined.
Traders said the euro might give back some of its recent gains against the
dollar this week, possibly dragging gold lower.
The euro is near steady at $1.3495, from $1.3494 late Friday afternoon. June
crude is up $1.11 to $57.45 in overnight activity.
The May NAHB Housing Market Index is scheduled for release at 1 p.m. EDT
(1700 GMT).
Comex gold warehouse stocks were up 44,299 ounces at 8,501,818 ounces Friday,
while silver stocks were up 265,915 ounces at 119,106,357 ounces.
