Gold prices fell in Asian trading on Thursday, mainly influenced by the strength of the dollar and US Treasury yields, as traders remained on tenterhooks ahead of key economic readings that are likely to factor in interest rates.
This trend has led to some outflows from gold, pushing the yellow metal away from the record highs it hit last week. The yellow metal has also given back most of its gains this week.
Gold futures fell during the Asian session on Thursday.
According to the Comex classification of the New York Mercantile Exchange, gold futures for June delivery were trading at USD2,331.80 per ounce at the time of writing, down 0.40%.
It was previously traded at USD2,326.70 per ounce. Gold may find support at USD2326.70 and resistance at USD2371.35.
The dollar index, which measures the performance of the greenback against a basket of six other major currencies, rose 0.06% to trade at USD105.10.
Meanwhile on the Comex, silver for July delivery fell 1.76% to trade at USD31.80 per ounce while copper for July delivery fell 1.46% to trade at USD4.71 per pound.
