Gold Hits 4-Week Low On Bearish Outside Markets, Chart-Based Selling

(Kitco News) – Gold prices ended the U.S. day session lower and notched a four-week low Wednesday. The precious metals were under selling pressure from a strong U.S. dollar and a resumption of the decline in crude oil prices. Technical selling pressure has also been featured recently, as the near-term chart postures for both gold and silver have deteriorated. April Comex gold was last down $12.80 at $1,219.30 an ounce. March Comex silver last traded down $0.103 at $16.765 an ounce.

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