Isra-Mart srl: Precious Metals Under Sharp Pressure

www.isramart.com
Higher oil prices, last qouted with a 2.8% gain at $88.43 per barrel, have helped take the CRB Commodity Index 1.1% higher. Natural gas has also provided support to the CRB; the energy component was last quoted with a 1.8% gain at $4.01 per MMBtu after it had been in negative territory ahead of pit trade.

Precious metals are under pressure amid an improved tone of trade in the equity market. With the risk trade switched back on today, gold prices are down 3.7% to $1803 per ounce, which is only a few dollars above the session low that it set only minutes ago. Meanwhile, silver has fallen 2.6% to $40.78 per ounce. That's still about $0.40 above silver's session low, though.