Precious metals retreat as a rebound in the U.S. dollar offsets support from softer-than-expected inflation figures.
Gold and silver futures declined Friday as a firmer U.S. dollar countered the positive impact of Thursday’s softer inflation data. The dollar index steadied after a 2.4% drop the previous session, its largest one-day decline in over a month.
The pullback in metals followed a brief rally triggered by the latest Personal Consumption Expenditures (PCE) report, which showed inflation cooling more than anticipated. However, the dollar’s recovery erased those gains, pressuring commodity prices.
Market focus remains on the Federal Reserve’s policy outlook, with traders assessing whether the PCE data will influence rate-cut timing.