09:25 AM EDT, 07/17/2025 (MT Newswires) -- Gold traded sharply lower early on Thursday as the dollar rose to a month high after U.S. retail sales rose above expectations last month.

Gold for August delivery was last seen down US$43.60 to US$3.315.50 per ounce.

The U.S. Census Bureau on Thursday reported retail sales rose by 0.6% in June from the prior month, up from a drop of 0.9% in May, and well ahead of the consensus estimate for a rise of 0.2% according to Marketwatch. Weekly initial jobless claims of 221,000 were also under expectations, down from 228,000 last week and under the consensus estimate of 234,000 new claims.

The dollar moved up following the reports, bearish for commodities priced in the currency. The ICE dollar index was last seen up 0.31 points to 98.71, the highest since June 20.

Treasury yields were mixed, with the U.S. two-year note last seen up 1.1 basis points to 3.907%, while the 10-year note was paying 4.458%, down 0.05 points.