(Kitco News) - Gold and silver prices are moderately lower in midday U.S. trading Monday. The safe-haven metals are seeing better selling interest amid an uptick in risk appetite to start the trading week. December gold futures were last down $8.10 an ounce at 1,455.50. December Comex silver prices were last down $0.10 at $16.90 an ounce.
Trader and investors have a risk-on attitude Monday on the surprising news that China said it will step up its efforts to protect intellectual property rights. That is a key element the U.S. wants China to reform in order to reach a trade deal. It could be that the U.S.’s hard-line approach on the trade deal with China is putting pressure on China to get a deal completed soon.
To underscore the keener risk appetite, U.S. stock indexes are hovering very close to their all-time record highs scored last week. Asian and European stock markets were also mostly firmer overnight.
The key “outside markets” today see the U.S. dollar index firmer. Nymex crude oil prices are near steady and trading around $57.75 a barrel.
![Live 24 hours gold chart [Kitco Inc.]](https://www.kitco.com/images/live/gold.gif?0.2924175530478188){kind=small}
Technically, December gold futures bears have the overall near-term technical advantage as prices have been trending lower for 11 weeks. Gold bulls' next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,500.00. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at $1,425.00. First resistance is seen at today’s high of $1,462.00 and then at $1,475.00. First support is seen at today’s low of $1,453.90 and then at $1,450.00. Wyckoff's Market Rating: 4.0
![Live 24 hours silver chart [ Kitco Inc. ]](https://www.kitco.com/images/live/silver.gif)
December silver futures closed bears have the overall near-term technical advantage. Prices have been trending lower for 11 weeks. Silver bulls’ next upside price breakout objective is closing prices above solid technical resistance at $17.50 an ounce. The next downside price breakout objective for the bears is closing prices below solid support at $16.50. First resistance is seen at $17.00 and then at last week’s high of $17.21. Next support is seen at today’s low of $16.82 and then at last week’s low of $16.705. Wyckoff's Market Rating: 4.0.
December N.Y. copper closed down 5 points at 264.75 cents today. Prices closed nearer the session low today. The copper bulls and bears are on a level overall near-term technical playing field amid choppy trading. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the November high of 273.00 cents. The next downside price objective for the bears is closing prices below solid technical support at 255.00 cents. First resistance is seen at today’s high of 267.00 cents and then at 270.00 cents. First support is seen at today’s low of 2.6365 and then at the November low of 261.30 cents. Wyckoff's Market Rating: 5.0.
