(Kitco News) – Gold prices ended the U.S. day session moderately down and fell to a six-week low Wednesday, on more technical selling pressure and amid a dearth of fresh, bullish fundamental news for the yellow metal. The gold and silver bears remain in near-term technical control of their markets. April gold was last down $7.00 at $1,304.40 an ounce.
This week has not seen any major, markets-moving geopolitical developments and few major economic data points. That has left the chart-based traders to have a heavier influence on many markets, including gold and silver. Early-morning short-covering and mild bargain-hunting gains in gold succumbed to technical selling pressure at mid-morning.
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