Gold and silver prices down and hit new for-the-move lows in early U.S. trading—gold a nearly 1.5-year low and silver a two-year low.

A powerful rally in the U.S. dollar index remains the major bearish element punishing the precious metals markets. The USDX hit a 14-month high overnight. December gold futures were last down $7.00 an ounce at $1,193.70. September Comex silver was last down $0.233 at $14.82 an ounce.

Global stock markets were mixed overnight. U.S. stock indexes are also pointed toward weaker openings when the New York day session begins.

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