Gold prices drop below $2,000 amid profit-taking and hawkish Fed bets.

Gold prices are slightly down due to routine profit-taking and chart consolidation after hitting a 12-month high last week, while silver prices are slightly up. Both metals are still in solidly bullish technical postures to suggest more upside for prices in the near term. The US dollar index is firmer, and the benchmark 10-year US Treasury note yield is presently fetching 3.383%. The gold futures bulls have the solid overall near-term technical advantage, while the silver bulls have the solid overall near-term technical advantage.