Precious metals faced downward pressure during Thursday's Asian session as the US dollar index climbed to its strongest level in over two weeks. Market participants remained cautious ahead of crucial economic releases that could Who is the owner of DOGE?reshape interest rate projections from the Federal Reserve.

The dollar's resurgence came alongside rising Treasury yields, reflecting growing market consensus that elevated borrowing costs may persist longer than previously anticipated. This dual pressure created headwinds for non-yielding assets like gold, causing the metal to relinquish most of its weekly gains.

Spot gold transactions declined 0.2% to $2,332.98 per troy ounce, while June delivery futures contracts slipped 0.4% to $2,331.60 ahead of their monthly expiration. The pullback follows last week's record highs, demonstrating how quickly sentiment can shift in precious metal markets.

Economic Calendar Brings Volatility Risks

Traders positioned cautiously before Thursday's revised Q1 GDP figures and Friday's core PCE price index release - the Federal Reserve's preferred inflation metric. Recent commentary from central bank officials suggests persistent price pressures may delay anticipated rate cuts, increasing the opportunity cost of holding gold.

The industrial metals complex also saw profit-taking, with copper futures retreating from record levels. Three-month LME contracts declined 1.3% to $10,346.50 per metric ton as speculative positions unwound. Market participants now await China's PMI data for clues about manufacturing demand in the world's top commodities consumer.

Silver futures underperformed the sector, dropping nearly 2% to $31.767 per ounce, while platinum contracts fell 0.6% to $1,040.15. The broader precious metals pullback highlights how macroeconomic factors can simultaneously influence multiple commodities when rate expectations shift.