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Gold Prices Decline as Dollar Rises Amid Anticipation of U.S. Inflation Data
Gold prices fell on Thursday following robust gains of more than 2 percent in the previous session, influenced by a strengthening dollar and the market’s anticipation of crucial inflation data from the United States, which may provide new insights regarding interest rate trends.
Spot gold prices dropped by 0.4 percent to $1,961.57 per ounce after rising approximately 2.1 percent in the last session. Meanwhile, U.S. gold futures for April delivery decreased by 0.6 percent to $1,981 per ounce.
In other precious metals, silver prices in spot trading fell by 0.5 percent to $26.83 per ounce, following sharp losses exceeding 5 percent during Wednesday’s session.
Conversely, platinum recorded a slight decline of 0.1 percent, stabilizing at $2,069.35 per ounce, amidst a backdrop of global market anticipation for economic indicators that could shape the direction of U.S. monetary policy in the upcoming period.
