Gold prices are trading solidly lower and have hit a five-week low in late-morning dealings Tuesday. Technical selling pressure is featured as the near-term chart posture favors the bears. Also, the sell off-in crude oil prices and a rebound in the U.S. dollar index from its daily low are working against the gold market Tuesday. The yellow metal bears are now eyeing pushing prices below the important psychological support level of $1,200.00 in the near term. April gold was last down $17.20 an ounce at $1,209.90.
