GOLD - Gold trading strategy before August 15

Gold and silver prices edged lower in early trading on Monday, amid quieter US markets and hitting six-week lows overnight. Speculators watching gold and silver prices are still listening as US Treasury yields rise and the US dollar strengthens in the foreign exchange market. Technical analysis shows a short-term bearish bias for both metals, opening the door for bears (who expect prices to fall as well), giving chart speculators more reason do to monitor the limited market of these two metals.

Gold's last fell $5.60 and hit $1,940.80, while silver fell $0.083 and hit $22,665.

In equity markets, Asia and Europe experienced mixed volatility in overnight trading. U.S. stock indexes opened slightly higher as the New York session began.