(Kitco News) – Gold prices are modestly higher in subdued holiday trading early Friday. For the year 2021, nearby Comex gold futures prices lost around $75, after closing the last day of December 2020 at $1,895.10. Nearby Comex silver futures will end the year down over $3 from its close of $26.412 on the last trading day of 2020. Today, February gold was last up $6.20 at $1,820.20 and March Comex silver was last up $0.065 at $23.125 an ounce.
Global stock markets were mixed in quiet overnight dealings, with some closed for the New Year holiday. U.S. stock indexes are pointed toward slightly lower openings when the New York day session begins. Look for more low-volume trading on this last day of 2021. The U.S. government is closed today. Risk aversion is not keen late this week, but neither is risk appetite.
The key “outside markets” today see Nymex crude oil prices weaker and trading around $76.25 a barrel. The U.S. dollar index is near steady early today. Meantime, the yield on the U.S. Treasury 10-year note is presently fetching 1.51%. For 2021, the 10-year yield was up 0.6%–the biggest yearly gain in eight years.
![Live 24 hours gold chart [Kitco Inc.]](/images/live/gold.gif?0.2924175530478188){kind=small}
Technically, February gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $1,840.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,775.00. First resistance is seen at $1,825.00 and then at $1,840.00. First support is seen at $1,810.00 and then at $1,800.00. Wyckoff’s Market Rating: 6.5.
![Live 24 hours silver chart [ Kitco Inc. ]](/images/live/silver.gif)
The March silver bears have the overall near-term technical advantage. Recent upside price action suggests a market bottom is in place. Silver bulls’ next upside price objective is closing December futures prices above solid technical resistance at $24.00 an ounce. The next downside price objective for the bears is closing prices below solid support at the December low of $21.41. First resistance is seen at the overnight high of $23.26 and then at this week’s high of $23.48. Next support is seen at $23.00 and then at this week’s low of $22.60. Wyckoff’s Market Rating: 3.5.
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