Gold, silver mixed, heading into the EU session

NEW YORK, Dec 07: After rebounding last week gold is yet to trade above the US $1848.84 resistance area but is trading 0.18 per cent higher overnight. Silver on the other hand is not looking so positive and trades 0.18 per cent in the red on the first trading day of the week, report agencies.

Prices of the precious metals were pummeled again in the overnight sessions ahead of Monday's US trading, as the risk-on sentiment that dominated markets end-to-end last week continued to roil the commodities space after the global re-open. While the primary markets for risk, equities in developed Asian and European economies, were somewhat mixed overnight, investors were eager to cash out of their gold positions in a reach for yield; the yellow metal shed more than $15/oz while silver spot prices briefly fell below $22/oz.

In the first hour of US trading, the American benchmark indices have weakened as investors cash in some profits ahead of the end of the month.