Gold and Silver Prices Under Pressure Amid Weak China Data and Lack of Momentum

Gold and silver prices are down following weaker-than-expected economic data from China, which has dampened bullish enthusiasm across the raw commodity market. China's October exports fell 6.4% year-on-year, while imports rose a less-than-expected 3.0%. The news, along with a surprise interest rate hike by Australia's central bank and comments from a Minneapolis Fed official, has contributed to a bearish sentiment in the metals market. The U.S. dollar index is higher, crude oil prices are lower, and U.S. economic data to be released includes retail sales, international trade, economic optimism, and consumer credit.