Gold futures prices are moderately lower in early U.S. trading Thursday, while the cash, or spot, gold market is seeing a corrective bounce from late selling pressure Wednesday. The New York futures market was closed Wednesday before some additional downside pressure occurred in the cash market in the afternoon. Thus, the higher spot market today and lower futures. The near-term technical posture of the gold market has somewhat deteriorated the past couple days. Also, there has been a dearth of gold-market-bullish headline news events the past couple weeks. February Comex gold was last down $5.80 at $1,189.20 an ounce. Spot gold was last up $6.00 at $1,189.60. March Comex silver last traded down $0.16 at $16.19 an ounce.
