Gold's Stability in Neutral Amid Uncertainty and Dollar Strength

Gold and silver prices are down due to a stronger US dollar index, rising US Treasury yields, and a still-hawkish US Federal Reserve. China has slightly eased its monetary policy by lowering two key lending rates by 10 basis points. US Secretary of State Anthony Blinken met with Chinese President Xi Jinping to stabilize US-China ties, but left without an agreement on better military communications. Fed Chair Jerome Powell will provide his semi-annual monetary policy report to Congress on Wednesday and Thursday, with the market closely watching for fresh clues on the timing of rate increases. The US dollar index is higher, while Nymex crude oil prices are near steady and the benchmark 10-year US Treasury note yield is presently fetching around 3.779%.