Gold and Silver Retreat as Bullish Momentum Pauses

Gold and silver prices are slightly down as profit-taking and consolidative pressure follow recent gains. Traders and investors are focused on rhetoric from central bankers, particularly the Federal Reserve. The U.S. dollar index is lower, crude oil prices are lower, and the yield on the U.S. Treasury 10-year note is at 4.865%. Technically, gold and silver futures are in an uptrend, with bulls having the overall near-term advantage. The next upside price objective for gold is to close above $2,050, while for silver it is to close above $25. Copper prices closed near the session high after hitting a 12-month low, with bears having the overall near-term advantage.