Gold slips below $4,050 ahead of key US jobs data
Mumbai, June 29 -- Gold futures retreated toward $4,050 an ounce on Monday, while silver fell more than 2% to around $58 an ounce, as renewed US-Iran tensions lifted oil prices, reigniting inflation concerns and reinforcing expectations of a prolonged restrictive Federal Reserve policy stance. A firmer US dollar, hovering near a one-year high, and hawkish remarks from Fed Chair Kevin Warsh further eroded the appeal of non-yielding precious metals ahead of this week's closely watched US jobs report. Despite expectations of a structural supply deficit in the silver market, broader macroeconomic headwinds continued to dominate sentiment. Over the month, gold has declined more than 10%, while silver has fallen nearly 25%. On the domestic front,...
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