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gold scoring a 8 month peak. Bullish
Gold and silver prices are higher in early U.S. trading Wednesday, with gold scoring a 8 month peak. Bullish technical postures for the metals continue . Meantime, ideas of better economic growth in China are supporting metals prices on notions of increased demand. February gold was last up $4.50 at $1,880.60 and March silver was up $0.25 at $23.915. Global stock markets were mixed overnight. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins. Trader and investor risk appetite is not robust early in the new year, amid most major central banks that are still-hawkish on their monetary policies. However, risk aversion is not keen, either, due to hopes China’s economy, the second-largest in the world, will see improved growth after the Chinese government relaxed Covid restrictions. In overnight news, it appears most of the U.S. airline industry has seen its flights suspended due to a computer malfunction of unknown nature. The first thing that comes to many market watchers’ minds is a major cyber attack from a foreign country that could prompt a retaliation from the U.S.