Rise?

If the PCE data comes in on the lower side, the pressure on the Fed to cut rates will increase and help gold, Staunovo said.Fed Chair Jerome Powell told members of Congress on Tuesday that higher tariffs could begin raising inflation this summer. Meanwhile, data showed U.S. consumer confidence unexpectedly deteriorated in June.Gold is seen as a safe haven during turmoil and tends to perform well in low interest rate environments.

Spot silver dipped 0.6 per cent to $35.70, platinum lost 1.7 per cent to $1,294.06, while palladium fell 2 per cent to $1,044.92.

A1. Spot silver dipped 0.6 per cent to $35.70, platinum lost 1.7 per cent to $1,294.06, while palladium fell 2 per cent to $1,044.92.

A2. Gold is seen as a safe haven during turmoil and tends to perform well in low interest rate environments.