Gold Futures Decline During Asian Trading Session
Gold futures traded lower during the Asian session on Friday, pressured by a stronger US dollar and weaker sentiment across the commodities market.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were trading at USD4,588.97 per troy ounce at the time of writing, down 2.06%.
The precious metal previously touched an intraday low during the session. Analysts expect gold to find support at USD4,584.95, while resistance is projected near USD4,783.40.
Meanwhile, the US Dollar Index Futures, which tracks the performance of the greenback against a basket of six major currencies, rose 0.30% to USD99.02.
In other metals trading on Comex, silver futures for July delivery plunged 5.52% to USD80.62 per troy ounce. Copper futures for July delivery also weakened, falling 2.84% to USD6.39 per pound.