Gold Near Steady On More Chart Consolidation

London (May 17)  Gold prices are near steady in early U.S. trading, on more Backing and filling on the charts, which is not bearish. Gold bulls Remain resilient and continue to possess the firm near- Term technical advantage. World stock markets were mostly higher overnight, following the lead of crude oil prices that are at six-month highs. Nymex June crude oil prices are near steady in pre-U.S. trading and hovering just below $48.00 a barrel. Bulls are eyeballing the key psychological resistance level of $50.00 as being achievable. U.S. stock indexes are pointed toward near-steady openings after the gains posted Monday.

Source: KitcoNews