Precious Metals Face Headwinds as Dollar Gains Ground

As December trading began, gold and silver prices experienced downward pressure due to a strengthening U.S. dollar and rising Treasury yields. Gold futures fell 0.6% to $2,663.30 an ounce, while silver futures declined by a similar percentage. The dollar’s rise, influenced by potential trade tensions and robust U.S. economic performance, is making dollar-denominated commodities more expensive for foreign buyers. Market focus remains on upcoming economic data that could influence the Federal Reserve’s interest rate decisions and, consequently, precious metal prices.