Gold Goes Down
Gold and silver prices were lower in Asia on Wednesday, due to dollar strengthing. The dollar started the Asian day at around 81.33 yen, then climbed steadily through the day, with a blip higher on the Australian news
Spot gold recently traded at $1333.50 a troy ounce, down $6.80 from late Tuesday in New York.Silver initially rose strongly after the U.S. futures regulator raised an alarm about the silver market on Wednesday.Delta-hedging where option granters buy to cover their exposure against the $24 strike, helped push spot silver to jump nearly 40 cents to $24.20 earlier in the day, traders said. Silver later retreated to $23.88.