Gold prices fell on Friday as the dollar strengthened, fueled by weak U.S. economic data that heightened expectations for the Federal Reserve to temporarily pause its tightening cycle following a final interest rate hike next month. Spot gold dropped 0.4% to $1,996.92 per ounce by 0612 GMT, after rising 1% on Thursday. The yellow metal declined approximately 0.3% since the beginning of the week. U.S. gold futures also fell 0.7% to $2,005.70. Data released on Thursday revealed that more Americans filed for unemployment benefits, and separate data indicated that manufacturing activity in the East Coast states hit its lowest level in three years in April.
Gold Prices Decline Amid Anticipation of U.S. Interest Rate Movement
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