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The Emirates News Agency reported that spot gold traded at $4,138.32 per ounce on Thursday while US gold futures eased to $4,149.90. This decline extended losses from prior sessions after gold had reached recent highs. Market activity reflected adjustments by investors responding to robust US economic indicators that bolstered the dollar.
According to additional market updates silver and platinum also recorded losses with silver dropping more than 1 percent in the session. Platinum and palladium followed similar downward trends amid the broader pressures on precious metals. These movements aligned with a strengthening US dollar index against other major currencies making dollar-priced commodities less attractive to international buyers.
A Reuters report found that traders increased bets on US interest rate hikes as soon as September following a hawkish stance from the Federal Reserve. The central bank highlighted persistent inflationary risks tied to geopolitical factors including tensions from the Iran conflict. Such expectations lifted Treasury yields and reinforced the appeal of interest-bearing assets over non-yielding gold.
The World Gold Council mid-year outlook for 2026 indicated that the metal remains sensitive to abrupt changes in investor sentiment and geopolitical developments. It noted that gold had posted strong gains earlier in the year before facing headwinds from profit-taking and rebalancing by holders. Council analysis suggested that any further decline of 10 to 15 percent from current levels would likely encounter support from bargain-hunting demand across multiple sectors.
JPMorgan Global Research projects gold prices to average $6,000 per ounce by the fourth quarter of 2026 even with near-term volatility. Bank analysts pointed to trade concerns geopolitical crises and sustained central bank buying as elements that continue to support the longer-term case for the metal. They observed however that short-term investor interest has tapered following the early-year surge.
World Gold Council figures show that gold demand rose in the first quarter of 2026 largely on the back of a 42 percent increase in retail investment in bars and coins. This buying was fueled by individuals seeking exposure amid geopolitical uncertainty and dips in prices from peaks near $5,500 per ounce in January. The council highlighted that such retail flows helped offset softer institutional demand during the period of correction.
