Precious Metals Slide as Daily Outside Markets Turn Bearish

Gold and silver prices are down due to a stronger U.S. dollar index and a slight rise in U.S. Treasury yields. Both metals have seen their near-term chart postures deteriorate, leading to technical selling. Traders are awaiting important economic data and the Federal Reserve's monetary policy meeting results later in the week. The U.S. government's ongoing debt auctions are also being closely watched. The U.S. dollar index is slightly higher, crude oil prices are steady, and the yield on the 10-year Treasury note is at 4.26%. Gold and silver futures prices hit three-week lows, with the bulls losing their near-term technical advantage. Copper prices closed lower but still have a slight overall near-term technical advantage.