Comex Gold/Silver trade in softer tone

Comex gold and silver have a softer tone in early trading after the late-Tuesday sell-off in U.S. stocks spread to other markets around the globe.

Gold traders are concerned about being "overly long" in metals at the moment.

The investment community is probably a little long still.

Some are paring back positions and some are holding on.

But certainly, they are not coming in on the buy side yet.

April gold is down $6.40 to $643 an ounce and May silver is down 17 cents to $12.79.