(Kitco News) - Gold prices were ending the U.S. day session with modest gains Tuesday. Silver prices were also firmer and hit a four-week high. Some risk aversion in the marketplace early this week has prompted mild safe-haven demand for gold. Chart-based buying is also evident in gold and silver markets as their near-term technical postures are becoming more bullish. June Comex gold was last up $4.20 an ounce at $1,258.20. May Comex silver was last up $0.118 at $18.33 an ounce.
World stock markets were mostly weaker Tuesday. Traders and investors are a bit tentative and anxious ahead of key events later this week. The world marketplace will be closely watching the meetings this week between U.S. President Donald Trump and Chinese leader Xi Jinping. FOMC minutes are out Wednesday afternoon and the U.S. employment report is due Friday morning. All of the above are prompting some risk aversion in the marketplace.
Some weaker-than-expected U.S. economic data released Monday also put some apprehension into the world marketplace. U.S. reports Tuesday were not markets movers and were mostly in line with market expectations.
The key outside markets on Tuesday saw the U.S. dollar index firmer. The index has seen a solid rebound from a 3.5-month low hit last week and the bulls have the slight overall near-term technical advantage. Meantime, Nymex crude oil prices were higher. The oil bulls have upside technical momentum to suggest a near-term market bottom is in place and that prices can at least trade sideways for a while.
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![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif?0.2924175530478188)
Technically, June gold futures prices closed nearer the session low today. The gold bulls have the overall near-term technical advantage. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at the February high of $1,268.10. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at $1,225.00. First resistance is seen at last week’s high of $1,264.20 and then at $1,268.10. First support is seen at $1,250.00 and then at this week’s low of $1,246.40. Wyckoff's Market Rating: 6.0
![Live 24 hours silver chart [ Kitco Inc. ]](http://www.kitco.com/images/live/silver.gif)
May silver futures prices closed near mid-range today and hit a four-week high. The silver market bulls have the overall near-term technical advantage. Silver bulls' next upside price breakout objective is closing prices above solid technical resistance at the February high of $18.54 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at $17.50. First resistance is seen at today’s high of $18.43 and then at $18.54. Next support is seen at today’s low of $18.21 and then at $18.00. Wyckoff's Market Rating: 6.0.
May N.Y. copper closed up 100 points at 261.35 cents today. Prices closed nearer the session high today. The copper bulls and bears are on a level overall near-term technical playing field. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at last week’s high of 271.70 cents. The next downside price objective for the bears is closing prices below solid technical support at the March low of 255.85 cents. First resistance is seen at this week’s high of 266.05 cents and then at 268.00 cents. First support is seen at today’s low of 259.40 and then at 256.65 cents. Wyckoff's Market Rating: 5.0.
