Gold and Silver Retreat as Dollar Strength Limits Rebound

Precious metals prices declined as the U.S. dollar strengthened and Treasury yields rose, capping any rebound after recent data. Spot gold traded near 4,057.10 dollars per ounce, down 1.11 percent, while silver stood at about 57.77 dollars, falling 1.90 percent. The Fed kept rates in the 3.50-3.75 percent range after a 9-3 vote, though three officials favored a hike. Q2 GDP growth eased to 1.5 percent annualized and core PCE reached 3.3 percent year-over-year.

Oil stayed firm with WTI near 85.46 dollars a barrel amid Strait of Hormuz disruptions. Technically, both metals face bearish pressure, with resistance at 4,101 dollars for gold and 59.00 dollars for silver.