Gold and silver traders are watching the important outside markets early this week, amid a lack of major, markets-moving fundamental news.
Meantime, Nymex crude oil prices are firmer on a corrective bounce after dropping sharply and hitting a five-week low on Monday, and are trading around $66.60 a barrel.
Trader and investor risk appetite is fading at mid-summer, as the newer Delta Covid-19 strain that is surging in some regions of the world, including parts of the U.S., raises concerns about a slowing global economy.
Technically, gold futures bulls have the slight overall near-term technical advantage but a price uptrend on the daily bar chart is in some jeopardy.
The silver bears have the firm overall near-term technical advantage as prices have seen a bearish downside “breakout” from a sideways trading range.