Gold prices edged lower on Thursday as the U.S. dollar strengthened, making the precious metal more expensive for holders of other currencies. Spot gold fell 0.2% to $1,263.16 per ounce.

Factors Influencing Gold Prices

• Dollar Strength: A stronger dollar typically weighs on gold prices.
• Interest Rate Expectations: Expectations of rising interest rates can also dampen enthusiasm for gold, which doesn’t pay interest.
• Global Economic Uncertainty: Gold often benefits from uncertainty, as investors seek safe-haven assets.

Analyst Commentary

Analysts noted that gold’s near-term direction would likely be influenced by upcoming economic data releases and central bank policy statements.