(Kitco News) - Gold futures prices ended the U.S. day session sharply lower Wednesday, as moderate early losses accelerated to sharply lower levels later in the trading session. An increase in investor risk appetite saw solid rallies in the U.S. stock indexes Wednesday, which worked to pull way safe-haven demand for gold that surfaced Tuesday. Many weak-handed longs who had entered the gold market just recently were also washed out Wednesday. Wednesday’s price action confirmed the bulls have heavy lifting to do in the near term to repair the recent serious near-term technical damage. April Comex gold last traded down $20.30 at $1,595.30 an ounce. Spot gold was last quoted down $18.80 at $1,596.50. May Comex silver last traded down $0.36 at $28.96 an ounce.