Precious Metals Follow Stocks Lower
The U.S. stock market is under pressure on Monday after a couple of economic reports gave rise to fears about a global economic slowdown. The negative sentiment is weighing on the precious metals complex with both gold and silver trading lower on the session.
At last check, COMEX gold futures had shed 0.61% to $1,632.00 while silver futures were down 3.46% to $30.55. The SPDR Gold Trust ETF (NYSE: GLD) had lost 0.67% and the iShares Silver Trust ETF (NYSE: SLV) was 3.41% lower at $29.70.
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