Gold Closes at 3-Week Low Close on Technical Selling, Upbeat U.S. Housing Data

Gold futures prices ended the U.S. day session solidly lower and closed at a three-week low close Wednesday. Chart-based sellers were active in gold and silver today, including sell-stop orders being triggered in the futures markets. A positive U.S. existing home sales report also prompted downside price pressure on the metals. June Comex gold was last down $16.60 at $1,186.50 an ounce. May Comex silver was last down $0.203 at $15.805 an ounce.

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