Gold prices face downward pressure amidst economic concerns and rising USDX and bond yields.

Gold and silver prices are down due to a rally in the US dollar index and a slight rise in US Treasury yields. Silver has been hit especially hard this week due to concerns about slowing global economic growth reducing consumer and commercial demand for the metals. Global stock markets were mixed overnight, and there are growing concerns about a US and/or global economic recession. The US dollar index is firmer, and the benchmark 10-year US Treasury note yield is presently fetching 3.412%.