Gold futures slip as rising Treasury yields weigh on prices.

Gold futures pulled back on light volume following a previous rally, putting prices on track for a third weekly decline in July. Although June Core PCE inflation eased to 3.3% year-over-year, a 22% surge in WTI Crude Oil futures during July raised expectations for firmer inflation ahead. Additionally, higher Treasury yields following the Federal Reserve's July meeting—where three officials dissented in favor of a rate hike—continued to exert pressure on non-yielding assets like Gold futures ahead of upcoming labor market data.