Gold price sees mild corrective pullback from recent gains

London (jun 7)  Gold prices are modestly lower in early U.S. trading, on a Corrective pullback from recent good gains. Gold bulls Still possess the near-term technical advantage. World stock markets were mostly higher overnight, boosted in part by the recent rally in crude oil prices that sees Nymex futures presently trading around $50.00 a barrel. U.S. stock indexes are pointed toward firmer openings as prices are at or near highs for this year and also near record highs. A speech from Fed Chair Janet Yellen on Monday did not cause any fresh alarm about U.S. economic growth prospects, and that also reassured stock market investors.

Source: KitcoNews