Metals succumb to worldwide concerns

FXstreet.com (Chicago) – Amid the US debt limit concerns and a country with a political apparatus divided and running out of time before the hard deadlines are met, market participants remain cautious. Metals succumb to bearish sentiment spread throughout the world.

Metals Recap


Gold is offered at $1332.40 and registers lows at $1,331.30 with highs at $1,336.80 for a total of 0.28% losses. Silver is also down and prints a 0.50% retracement to be offered at $21.78, printing lows at $21.77 and highs at $21.86. Platinum is also down 0.24% and registers lows at $1,425.10 with highs at $1,425.40 and is now offered at $1,425.40. Copper retraces 0.08% and is now offered at $3.2695 printing lows at $3.2610 and highs at $3.2720. Finally, palladium registers 0.34% losses and prints lows at $723.00 and highs at $725 to be now offered at $723.25.

Red flags for Asian equities

All indexes but the Kospi print losses in Asia. Amid concerns on the US debt ceiling and deficit with hard deadlines approaching and threat of a possible governmental shutdown, market participants digest poor performance in Wall Street and economic results.
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