Gold, silver firmer as USDX, U.S. Treasury yields dip

Gold, silver firmer as USDX, U.S. Treasury yields dip gold silver USTreasuryyields

- Gold and silver prices are a modestly higher in midday U.S. trading Monday. A lower U.S. dollar index and a decline in U.S. Treasury yields are supporting the metals market bulls today. However, the metals market bulls are still tentative amid general marketplace sentiment that Federal Reserve monetary policy is likely to remain tight in the coming months, despite notions the U.S. and/or global economy could slip into recession during that period. June gold was last up $3.20 at $1,993.

The key outside markets today see the U.S. dollar index lower. Nymex crude oil prices are higher and trading around $78.75 a barrel. The benchmark 10-year U.S. Treasury note yield is presently fetching 3.517%.

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