Gold prices moved lower on Thursday, staying close to their weakest levels in more than seven months.
Spot gold fell 0.4% to $3,985.89 per ounce after dropping to its lowest level since November 2025 during the previous trading session. U.S. gold futures for August delivery also slipped 0.2% to $4,001.60 per ounce.
The decline comes as investors increasingly expect the U.S. Federal Reserve to raise interest rates three times this year. At the same time, the U.S. dollar has climbed to a 13-month high, making gold more expensive for buyers using other currencies and reducing its appeal.
Markets are now focused on upcoming U.S. personal consumption expenditures (PCE) data, the Federal Reserve’s preferred measure of inflation. Investors hope the report will provide clearer signals about the future direction of interest rates and monetary policy.
Other precious metals also saw mixed performance. Silver edged down 0.2% to $57.33 per ounce, while platinum slipped 0.2% to $1,575.85 per ounce. Palladium was the exception, rising 0.3% to $1,170.25 per ounce.
For now, gold remains under pressure as traders weigh the impact of higher interest rate expectations and a stronger dollar on the precious metals market.
