Gold Extends Decline as Stronger Dollar Offsets Safe-Haven Demand

Spot gold fell 0.5% to $4,057.81 per ounce on Thursday, marking its third consecutive session of losses as a stronger U.S. dollar outweighed safe-haven demand linked to renewed geopolitical tensions in the Middle East (Source: Investing.com).

The decline followed the release of the Federal Reserve's June meeting minutes, which showed policymakers remained divided over the outlook for interest rates. The minutes also highlighted ongoing concerns about inflation, reinforcing expectations that monetary policy could remain restrictive for longer.

Higher oil prices, driven by renewed U.S.-Iran tensions, have also contributed to inflation concerns, prompting investors to reassess the outlook for interest rates and the U.S. dollar.

Among other precious metals, silver fell 0.7% to $57.86 per ounce, while platinum rose 0.7% to $1,598.13 per ounce, supported by separate market factors.

Investors will continue monitoring developments in the Middle East, upcoming U.S. economic data, and comments from Federal Reserve officials for further clues on the interest-rate outlook.