Gold prices are weaker early U.S. trading Wednesday, backing away from their near 10-week high recorded on Tuesday.
February Comex gold fell 0.6 percent or $7.40 to $1,203.50 an ounce. March Comex silver fell $0.24 or 1.5 percent at $16.945 an ounce.
SPDR Gold Trust slipped 0.5 percent premarket, while the iShares Silver Trust declined by 1.1 percent. The VanEck Vectors Gold Miners ETF declined 0.8 percent.
World stock markets are surging Wednesday, following the lead of solid gains recorded in the U.S. equities on Tuesday that saw the major U.S. stock indexes hit record highs. U.S. President Donald Trump said he would revive the U.S. economy when he was running for the office.
The U.S. dollar index is declining on Wednesday; it hit a six-week low Tuesday. The index has been trending lower for three weeks.