Gold and Silver Under Pressure as Greenback Surges

From traderslog.com

Gold futures fell for an 8th consecutive day in early trading on Tuesday, edging towards the prior major low of $1,168 per ounce that was reached in August. Analysts are looking to the robust U.S. dollar and upcoming economic data as cues for the direction of the yellow metal.U.S. retail sales, inflation and manufacturing data are among the releases due later this week. Gold prices now have fallen about 12% since the recent high of $,1369 in April and have lost 8% for the year. Meanwhile, the U.S. dollar index, which measures the greenback against a basket of six major currencies, has soared to the highest levels ... (full story)