Precious Metals Prices Decline on Stronger Dollar, Lower Oil; Technical Resilience Intact

Gold and silver prices are lower in midday trading Tuesday due to a stronger dollar, lower oil prices, and higher Treasury yields.

Prices are seeing some corrective and consolidative action after recent gains. The Israel-Hamas conflict has not escalated further this week.

Gold faces resistance at $2,009 and support at $1,900. Silver faces resistance at $24.05 and support at $21.60.

Copper prices closed higher Tuesday after hitting a 12-month low Monday. Copper faces resistance at 378.60 cents and support at 340 cents.

Precious metals still have an overall near-term technical advantage, but need to show fresh power to maintain uptrends.