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(Kitco News) - Gold and silver prices are lower again and hit three-week lows in early U.S. trading Friday. A stronger U.S. dollar index that is back near its 20-year high scored in July is squelching buying interest in the precious metals markets this week. October gold futures were last down $7.00 at $1,753.90. September Comex silver futures were last down $0.309 at $19.155 an ounce.

Global stock markets were lower overnight. U.S. stock indexes are pointed toward lower openings when the New York day session begins. The U.S. stock indexes have been enjoying price uptrends on the daily charts since early June. Traders and investors late this week are fixated on U.S. Federal Reserve monetary policy, including differing remarks from a couple of Fed officials Thursday regarding a 0.5% or 0.75% rate hike from the FOMC in September. The marketplace is eagerly awaiting next week’s Jackson Hole, Wyoming Federal Reserve annual symposium, including a speech from Fed Chairman Jerome Powell next Friday.   

In overnight news, Bitcoin prices dropped sharply and are trading below $22,000.

In other news, producer prices in Germany soared by a record-high 37.2% in July, year-on-year, following a 32.7% rise in June.

This is how to play gold in a neutral price environment - VanEck's Foster and Casanova

The key outside markets today see Nymex crude oil prices lower and trading around $89.00 a barrel. The U.S. dollar index is higher and hit a four-week high in early U.S. trading. The USDX is back near a 20-year high scored earlier this year. The yield on the 10-year U.S. Treasury note is fetching 2.93%.

There is no major U.S. economic data due for release Friday.   

Live 24 hours gold chart [Kitco Inc.]

Technically, the October gold futures bears have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at the August high of $1,814.40. Bears' next near-term downside price objective is pushing futures prices below solid technical support at $1,725.00. First resistance is seen at the overnight high of $1,762.70 and then at Thursday’s high of  $1,775.90. First support is seen at the overnight low of $1,753.30 and then at $1,750.00. Wyckoff's Market Rating: 3.0

Live 24 hours silver chart [ Kitco Inc. ]

September silver futures bears have the firm overall near-term technical advantage. Silver bulls' next upside price objective is closing prices above solid technical resistance at $20.50. The next downside price objective for the bears is closing prices below solid support at the July low of $18.01. First resistance is seen at the overnight high of $19.48 and then at $20.00. Next support is seen at the overnight low of $19.09 and then at $19.00. Wyckoff's Market Rating: 2.5.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.