Prices of precious metals recorded losses on Thursday after several economic data updates from the United States and the Eurozone.
Federal Reserve's key inflation measure, the Personal Consumption Expenditures (PCE) index excluding food and energy, increased by 4.7% on a yearly basis in May, slowing down from the previous month, while euro area unemployment decreased to 6.6%. Better-than-expected data could have hurt the appeal of safe-haven assets as recession fears seemingly subsided.
Gold was down 0.50% to $1,808.89 per ounce at 11:37 am ET. Silver fell 1.83% to $20.37 per ounce concurrently. Platinum decreased 1.62% to $904.98 per ounce at 11:37 am ET. Palladium declined 3.89% to $1,890.70 per ounce at the same time.
