dollar index rose 0.16% on Friday, making gold more expensive for holders of other currencies. However, U.S. economic data shows that inflation has weakened, so the market continues to look forward to U.S. interest rate cuts and continues to digest tariff news.

"Gold is under slight pressure as we see a slight decrease in safe-haven demand, but it looks like Trump will indeed take a major counterattack, which will ultimately help gold prices rise."

Reuters reported citing David Meger, head of metal trading at High Ridge Futures, said: "Currently, gold prices are falling from recent highs and are in a consolidation period."

The US personal consumption expenditure price index (PCE) in April increased by 2.1% year-on-year, not far from the market's expectations of 2.2%. After the report was released, traders continued to bet that the Federal Reserve would lower its short-term borrowing cost target in September.

In addition, the ruling was shelved by the Court of Appeal on Thursday after the U.S. Court of International Trade ruled Wednesday (May 28) that the president had no right to impose tariffs on countries. This means that these tariff policies are still in effect. The White House is also considering other measures, which will inevitably implement tariff measures.

Gold prices continued to consolidate before the weekend as the dollar rose.

Futures gold prices fell 28.50 or 0.85% to $3315.40 on Friday (May 30). Spot gold prices fell 28.69 USD or 0.86%, falling back below $3,300 to $3,289.25.