Gold and Silver Prices Dip as USDX and Bond Yields Rise

Gold and silver prices are experiencing a pullback due to corrective and consolidative price pressure, influenced by a higher U.S. dollar index and an increase in U.S. Treasury yields. The Middle East situation remains a potential market disruptor. The U.S. dollar index is higher, while crude oil prices are steady. Technical analysis shows that gold and silver futures are trending higher, with bulls having the near-term advantage. Economic data due for release includes retail sales, PMIs, and the Richmond Fed business activity survey.