Gold, silver bulls claw back early losses, buy the dips

Welcome to Kitco News' 2023 Outlook Series. Uncertainty continues to dominate financial markets as central bank monetary policies push the global economy into a recession to cool down inflation. Stay tuned to Kitco News to learn from the experts on how to navigate turbulent financial markets in 2023.

(Kitco News) - Gold and silver prices are firmer in midday U.S. trading Wednesday, as the market bulls stepped in to buy the weaker levels seen in early trading. A weaker U.S. dollar index and higher crude oil prices on this day are also positive outside market influences on the precious metals. February gold was last up $3.70 at $1,939.20 and March silver was up $0.121 at $23.87.

Global stock markets were mixed overnight, with European shares mostly down and Asian shares mostly up. China markets are quiet as the Lunar New Year holiday is being celebrated. U.S. stock indexes are lower at midday.