Gold drops below $4000 an ounce as U.S. rate-hike expectations build; India 24K at Rs 1,40,780/10g
On July 1, gold prices slid below $4000 per ounce, hitting their lowest level in nearly eight months after strong U.S. JOLTS job-openings data, a firmer dollar and higher Treasury yields. In India, 24K gold was priced at Rs 1,40,780 per 10 grams, while MCX gold futures fell 1.10%. Silver also weakened, with MCX silver futures down 2.06%. Oil prices eased into the $70-per-barrel range, with WTI at $69 and Brent at $73 per barrel as geopolitical tensions cooled.