Spot gold fell 0.2% to $1,844.78 an ounce by 03:11 GMT, while US gold futures fell 0.3% to $1,848.10.
US 10-year Treasury yields have increased, hurting demand for non-yielding gold.
Market participants are eagerly awaiting US CPI data expected later today to ensure that decades of high inflation peaked in March. Gold prices are down regarding 0.3% this week.
Stephen Innes, managing partner at SBI Asset Management, said that a strong CPI reading might signal the Federal Reserve’s direction to tighten further and make the price of the yellow metal test the $1,825 level and push it down to $1,800. .
The Federal Reserve is expected to raise its key interest rate by 50 basis points in June and July, with increased chances of a similar move in September, according to a Archyde.com poll of economists who do not expect rate hikes to stop until the year. next.
As for other precious metals, spot silver fell 0.1% to $21.63 an ounce, platinum fell 0.6% to $966.13 while palladium rose 0.7% to $1,938.01. And the three are on their way to record a weekly decline.