Gold futures remained under firm pressure Thursday, a day after Federal Reserve Chairman Jerome Powell did nothing to affirm expectations by some market participants that the central bank’s next rate move would be a cut.
Gold for June delivery on Comex fell $13.10, or 1.1% to $1,270.70 an ounce. July silver fell 7 cents, or 0.4%, to $14.66 an ounce.
In other metals trade, July platinum fell $11.60, or 1.3%, to $865.80 an ounce, while June palladium was off $2.20, or 0.2%, to $1,342.20 an ounce.
July copper was off 1.15 cents, or 0.4%, at $2.79 a pound.