- Comex gold futures prices are modestly up in early U.S. trading Tuesday. Silver prices are near steady. Precious metals traders are tentative ahead of important government and economic developments in the U.S. that are coming into play for the marketplace. June gold was last up $7.30 at $2,032.00 and July silver was down $0.05 at $25.885.
The U.S. data point of the week is Wednesday morning’s April consumer price index report, which is expected to come in at up 5.0%, year-on-year, which would be the same as reported in the March CPI. The April core CPI is forecast up 5.5% versus up 5.6% in the March report. A Federal Reserve banking lender survey released Monday showed bankers have curtailed loans to customers, which is likely to help tame inflation.
In other news Bitcoin prices are tumbling on reported blockchain network congestion that caused Binance, the world’s largest crypto exchange, to temporarily halt withdrawals. The key outside markets today see the U.S. dollar index slightly higher. Nymex crude oil prices are weaker and trading around $72.50 a barrel. Meantime, the benchmark 10-year U.S. Treasury note yield is presently fetching 3.488%.
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