Gold and silver prices aremoderately lower in early-afternoon U.S. trading Thursday, with gold notchingat three-week low. The metals are pressured today by a solid rally in the U.S. dollarindex, which also hit a three-week high. Some technical selling isalso occurring in gold and silver, as their near-term chart postures havedeteriorated recently. February goldfutures were last down $4.20 an ounce at $1,279.80. March Comexsilver was down $0.075 at $15.30 an ounce.

In fundamental developments today, the EuropeanCentral Bank’s regular monetary policy meeting ended with no change in policy,as expected. The metals did not significantly react to the news, or to ECBPresident Mario Draghi’s press conference.

Gold and silver traders continue to seek out freshnews to drive their markets. The partial U.S. government shutdown drags on,along with the lack of U.S. economic data to drive many markets. A top Trumpadministration economic advisor on Wednesday said the shutdown could promptzero growth in the U.S. economy in the first quarter of 2019.

The other outside market today sees Nymex crude oilprices are higher and trading around $53.00 a barrel. Political turmoil inVenezuela, including the U.S. recognizing the opposition leader as leader ofthe country, is a potentially bullish element for the oil market. The U.S. maysanction Venezuelan oil exports.