Precious Metals Under Pressure: Bulls Await Catalyst

Gold and silver prices are slightly lower as rising U.S. Treasury yields outweigh a lower U.S. dollar index and higher crude oil prices. The precious metals market is in need of a positive fundamental development to regain momentum. U.S. stock indexes are expected to open slightly higher, but trading may be quieter this week due to the U.S. Thanksgiving holiday. The U.S. dollar index is at an 11-week low, while crude oil prices are higher amid reports of potential OPEC oil-production cuts. Technical analysis shows that gold and silver bulls have the slight overall near-term advantage.