Gold price near steady; fresh inputs awaited

(Kitco News) - Gold and silver prices are are trading not too far from unchanged levels in early U.S. trading Friday. The precious metals markets are looking for some new fundamental stimulus to drive prices, but may have to wait a while amid summertime doldrums. August gold futures were last up $0.60 at $1,801.00 and September Comex silver was last up $0.093 at $26.075 an ounce.

Global stock markets were mixed to weaker overnight. The U.S. stock indexes are pointed toward mixed to firmer openings when the New York day session begins. The stock indexes have become a bit wobbly late this week, on renewed worries about Covid-19 surging in some regions of the world. Also, political tensions between the U.S. and China have ratcheted up this year, with reports saying the U.S. is set to sanction more Chinese companies. Also, the tenor of the marketplace appears to have changed from one of strong economic recoveries igniting rising inflation, to one of stagnating economic recoveries prompting central banks to keep their money policies very accommodative for longer.

Reports Friday say the Biden administration is set to tackle big technology companies that are monopolistic. President Biden will reportedly sign an executive order to loosen the grip of big tech companies.