Gold Prices Decline Amidst Strengthening Dollar and Treasury Yields

On Thursday, the price of gold experienced a significant decline as the US dollar and Treasury yields saw moderate gains. The announcement by US President Donald Trump about the potential delay in implementing tariffs on Canada and Mexico until April 2 has likely diverted attention from the precious metal.

Investors Await Key US Economic Reports

Investors are on the lookout for the latest US economic reports, which are expected to provide insights into the state of the world's largest economy. The anticipation builds as the US gross domestic product (GDP) data is set to be released before the stock markets open today.

Market Movements

At 3:16 am ET, gold prices dropped by 1%, trading at $2,887.53 per ounce. Shortly after, silver prices dipped by 0.27% to $31.72 per ounce. Meanwhile, platinum saw a slight increase of 0.16%, trading at $979.64 per ounce, and palladium gained 0.18%, reaching $920.13 per ounce at 3:17 am ET.