Gold Slips With Higher Dollar as Traders Weigh Fed Rate Outlook

(Bloomberg) -- Gold declined as a dollar gauge rose to the highest level since Sept. 11, weighing on bullion that’s priced in the greenback.

Still, prices of the precious metal weren’t far from the all-time high hit on Tuesday, with investors awaiting key US inflation and jobs data. The Fed’s preferred measure of underlying inflation likely grew at a slower pace last month, which would boost the argument for rate cuts, potentially aiding non-yielding bullion.

Invest in Gold

American Hartford Gold: #1 Precious Metals Dealer in the Nation Learn More

Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Learn More

Thor Metals Group: Best Overall Gold IRA Learn More

Powered by Money.com - Yahoo may earn commission from the links above.

Most Read from Bloomberg

Trump Cancels Trail, Bike-Lane Grants Deemed ‘Hostile’ to Cars Over 5,000 NYC Rent-Stabilized Apartments Headed for Auction Tenants Seek to Unionize One Private Equity Firm's Entire Housing Portfolio Trump’s Border Czar Involved in Detention Contract Talks Despite Recusal Where Modern Art Meets Wild Prairie

Gold and silver have been among this year’s best-performing major commodities on a broad confluence of supportive factors, including last week’s Fed rate cut and robust central-bank demand. On Tuesday, prices climbed as much as 1.2%, after Bloomberg News reported China has plans to become a custodian of foreign sovereign bullion reserves.

Spot gold slipped 0.7% to $3,736.16 an ounce at 5 p.m. in New York. The Bloomberg Dollar Spot Index rose 0.6%. Silver fell after topping $44 an ounce earlier this week, while platinum and palladium were little-changed.

--With assistance from Jack Ryan, John Deane, Sybilla Gross and Preeti Singh.

Most Read from Bloomberg Businessweek

MrBeast on His Quest to Turn YouTube Fame Into an Entertainment Empire ‘I Was a Weird Kid’: Jailhouse Confessions of a Teen Hacker Inflation Is Worse Than the CPI Shows, Says Ex US Comptroller Top US Business Schools Are Shutting Down DEI Initiatives How Trump Broke Corporate America’s Most Valuable Consultant

©2025 Bloomberg L.P.

View Comments