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FUNDAMENTALS
Spot gold fell 0.5% to $4,087.68 per ounce by 0116 GMT, hitting its lowest level since June 11. U.S. gold futures for August delivery declined 1.1% to $4,105.40.
The dollar hit a more than one-year high, making bullion more expensive for overseas buyers. [USD/]
U.S. President Donald Trump said on Tuesday that Iran had agreed to nuclear inspections into “infinity,” while Tehran said it had made no such concession in negotiations, raising questions about the viability of their fragile peace deal.
Traders are pricing in three interest rate hikes from the U.S. Federal Reserve this year, according to the CME FedWatch Tool. [FEDWATCH/]
Investors await the U.S. Personal Consumption Expenditures data, the Fed’s preferred inflation gauge, due on Thursday, for further cues on monetary policy.
Dubai’s commodities exchange will launch a same-day settlement gold contract, its CEO told Reuters, aiming to tap safe-haven demand and faster trading infrastructure to boost liquidity in the emirate’s bullion market.
Ghana’s Gold Board is aligning its gold pricing regime with internationally recognised LBMA benchmarks from July 1 while imposing strict caps on purchase prices to tighten market discipline and curb irregular trading, it said on Tuesday.
Spot silver fell 1.1% to $61.36 per ounce, platinum lost 0.9% to $1,637.34, and palladium was down 1.2% at $1,223.29.
DATA/EVENTS (GMT)
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https://economictimes.indiatimes.com/markets/commodities/news/gold-slips-as-fed-rate-hike-expectations-buoy-dollar/articleshow/131952668.cms
