Spot gold slipped 0.4% to $4,030.09 per ounce, while U.S. gold futures for August delivery fell by the same margin to $4,033.20 per ounce. Despite the decline, the precious metal remains on track to post modest weekly gains of approximately 0.4%.
Other precious metals also moved lower: Silver dropped 0.7% to $57.29 per ounce, platinum fell 1.3% to $1,579.49 per ounce, and palladium declined 1.5% to $1,237.50 per ounce.
Markets are now awaiting next week’s U.S. Federal Reserve meeting, as persistent inflation concerns continue to weigh on gold’s appeal as a non-yielding asset.
