Gold Prices Decline as Strong U.S. Jobs Data Boosts Dollar and Eases Rate Cut Expectations

Gold and silver prices declined amid a stronger U.S. dollar driven by upbeat U.S. jobless claims data, which reduced expectations of near-term Federal Reserve rate cuts. President Trump indicated a wait-and-see approach on Iran's unrest and confirmed no immediate plans to dismiss Fed Chair Jerome Powell. Easing geopolitical tensions and firm dollar support contributed to subdued safe-haven demand, while analysts expect gold to remain range-bound short term but bullish long term due to anticipated future rate cuts and ongoing uncertainties.