Gold slipped slightly to $3,747.80 per ounce on Friday, down 0.05% from the previous day, as investors recalibrated expectations for upcoming interest rate moves by the US Federal Reserve.
The modest decline came despite ongoing concerns over trade tensions and geopolitical uncertainty, which continue to support gold’s safe-haven appeal.
Market attention has increasingly turned to the latest US economic data, including stronger-than-expected second-quarter GDP growth and a drop in new unemployment claims. These indicators suggest the US economy remains resilient, tempering expectations for immediate Fed rate cuts.
Investors are now focused on the Personal Consumption Expenditures (PCE) price index, the Fed’s preferred gauge of inflation, scheduled for release later today.
The report could provide further guidance on the central bank’s policy path and influence gold’s near-term direction.
Over the past month, gold has gained 10.3%, reflecting a combination of market uncertainty, geopolitical risks, and sustained demand for the precious metal.
Analysts note that while the slight dip may signal a short-term pause, underlying demand for gold remains robust.
