Monday, June 27, 2011

A.M. Kitco Metals Roundup: Comex Gold Steady-Firm, Silver Weaker as Traders Await Greek Parliament Votes Later this Week

By Jim Wyckoff

(Kitco News) -Comex gold futures prices are trading steady to slightly higher Monday morning after hitting a fresh five-week low early on. Meantime, silver futures prices are trading moderately lower and also hit a fresh five-week low overnight. The market place is tentative to start the trading week, as Greece's parliament is scheduled to vote later this week on fiscal and austerity programs, amid the European Union debt saga that continues to play out. Some near-term chart damage has been inflicted in the precious metals following Friday's bearish weekly low closes. August gold last traded up $1.70 an ounce at $1,502.70. Spot gold last traded down $0.20 an ounce at $1,502.50. July Comex silver last traded down $0.528 at $34.11 an ounce....

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