The most active gold contract for June delivery fell 9.20 U.S. dollars, or 0.45 percent, to close at 2,026.40 dollars per ounce.
In a speech in Little Rock, Arkansas, on Thursday, St. Louis Federal Reserve President James Bullard downplayed concern over financial stress in the wake of the failure of Silicon Valley Bank, saying he thinks the Federal Reserve needs to continue to raise interest rates to a range of 5.5 percent to 5.75 percent to put pressure on high inflation.
The U.S. Labor Department reported Thursday that U.S. initial claims for state unemployment benefits dropped 18,000 to a seasonally adjusted 228,000 for the week ending April 1.
Silver for May delivery rose 5.60 cents, or 0.22 percent, to close at 25.093 dollars per ounce. Platinum for July delivery rose 9.40 dollars, or 0.93 percent, to close at 1,016.80 dollars per ounce.
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