COMEX gold slides to $3,993 an ounce, silver falls 2.93% to $57.735
AI Market Summary
Gold fell to a seven-month low and silver dropped nearly 3% as markets repriced for tighter Fed policy, with September hike odds around 67% after hawkish Fed commentary. Stalled US-Iran diplomacy adds an inflation-risk overlay that can reinforce restrictive policy expectations. Near-term direction for bullion is now highly sensitive to imminent US labor data (ADP, NFP) and PMI/inflation releases.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-1.19%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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On July 1, COMEX gold fell 1.13% to $3,993 per ounce, marking a seven-month low, while silver dropped 2.93% to $57.735 per ounce. The market was pressured as the probability of a Federal Reserve rate hike in September rose to 67%, alongside stalled US-Iran talks that reinforced expectations of tighter policy. Investors are awaiting the ADP employment report later in the day and Thursday’s nonfarm payrolls data to better gauge the path of interest rates.
