Gold drops below $4000 an ounce as U.S. rate-hike expectations build; India 24K at Rs 1,40,780/10g
AI Market Summary
Gold and silver weakened as a strong JOLTS print pushed the USD and Treasury yields higher, reinforcing expectations of tighter Fed policy and reducing safe-haven demand after a strong rally. The move signals a macro-driven risk repricing across precious metals. Oil also eased toward the $70/bbl area as geopolitical tensions cooled, adding to the broader decline in defensive positioning.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-0.29%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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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.
