Gold prices drifted lower on Wednesday, falling for a second straight session and pushing the most active gold futures contract to the lowest settlement in nearly two months.
The dollar's weakness helped limit gold's downside. The dollar index, which rose sharply on Tuesday after data from the Labor Department showed hotter-than-expected inflation in the U.S. in the month of August, dropped to 109.28 this morning. The index was last seen hovering around 109.50, down by about 0.3% from the previous close.
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.