Gold prices drifted lower on Thursday as investors sought riskier assets amid hopes U.S. President-elect Joe Biden will announce a big coronavirus relief package later in the day.
Higher U.S. Treasury yields and positive updates on the coronavirus vaccine front also contributed to increased risk sentiment in the market, which in turn reduced demand for the precious metal.
The dollar's retreat helped limit gold's losses. The dollar index, which advanced to 90.58 in the European session, fell to a low of 90.08 before recovering to 90.25 and limit its loss to around 0.1%.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.