Most members of the precious metals team started the midweek session a tad higher this morning; however their initial gains did not endure and the complex soon slipped into the red (except in the case of palladium, as of this writing).
Spot gold opened with a feeble gain of 70 cents per ounce and was quoted at $1,589.50 in New York. Within the first 20 minutes of trading the yellow metal approached its overnight lows near the $1,582.00 mark however.
Silver started the day on the downside, showing a 29-cent loss at the $38.72 level per ounce. The near [...]