Gold Prices Drop Amid Profit-Taking Ahead of Jobs Report

Gold prices declined on Thursday as investors took profits after the precious metal reached its highest level in about four weeks during the previous session. The drop comes amid anticipation of a jobs report set to be released tomorrow, Friday, which may provide clues about the Federal Reserve’s future interest rate policies in 2025.

In the spot market, gold fell by 0.1% to $2,659.62 per ounce. Conversely, U.S. gold futures rose by 0.2% to $2,678.30 per ounce.

During the last session, gold had reached a four-week high following a weaker-than-expected private-sector employment report in the United States.

As for other precious metals, silver remained steady in the spot market at $30.12 per ounce. Platinum dropped by 0.3% to $952.95, and palladium fell by 0.2% to $926.50 per ounce.