Gold, silver see price declines at greenback surges

- Gold and silver prices are moderately lower in early U.S. dealings Thursday, with both hitting six-week lows overnight. The U.S. dollar index has rallied recently, hitting a seven-week high overnight. That's a significantly bearish outside-market development for the metals markets. Rising U.S. Treasury yields this week are also a negative for the precious metals. June gold was last down $7.10 at $1,977.80 and July silver was down $0.197 at $23.70.

The key outside markets today see the U.S. dollar index higher and at a seven-week high. The greenback bulls have momentum. Nymex crude oil prices are weaker and trading around $72.50 a barrel. Meantime, the benchmark 10-year U.S. Treasury note yield is presently fetching 3.593%.

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