Gold prices fell sharply on Thursday as the dollar extended a recent uptick and bond yields surged higher after the Federal Reserve signaled another interest rate hike by the end of this year.
The dollar index advanced to 105.74 in early New York trading but subsequently pared most of its gains and was hovering around 105.30 a little while ago.
Gold futures for December ended down $27.50 or about 1.4% at $1,939.60 an ounce.
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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.