01-Jul-2026      14:23

Gold under pressure below $4,000 ahead of U.S. jobs report

Gold tumbled more than 1% to trade below the key $4,000-an-ounce mark on Wednesday, slipping to its lowest level since November 2025 as resilient U.S. economic data reinforced expectations of further Federal Reserve tightening. The U.S. dollar index rebounded to around 101.1 after stronger-than-expected job openings highlighted continued strength in the labor market, prompting markets to price in at least one Fed rate hike this year, potentially as early as September. Investors are now awaiting the U.S. monthly employment report for fresh policy signals, while developments in the ongoing U.S.-Iran peace talks in Qatar remain in focus. Meanwhile, MCX August gold futures declined 0.8% to Rs 141,434 per 10 grams.

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