Gold and Silver Futures Decline on Stronger U.S. Economic Data

Gold and silver futures settled lower on Thursday, influenced by a stronger-than-expected U.S. Gross Domestic Product (GDP) reading. The economic data suggests continued resilience in the U.S. economy, which in turn supports the prospect of higher interest rates from the Federal Reserve.

This economic outlook often dampens demand for precious metals like gold and silver. Investors typically favor interest-bearing assets when rates are expected to rise, making non-yielding commodities less attractive. The futures market reacted to these signals, leading to the downward movement in prices for both gold and silver.