Gold eases below $3400 as profit booking weighs, Fed in focus

Gold dipped under $3400 per ounce in Asia electronic trades on Tuesday, marking a second straight day of declines as traders locked in profits after the metal?s sharp rally to near-record highs in late April. Fresh US retail sales and industrial output data, due later today, will offer new clues on the health of the US economy. Meanwhile, all eyes remain on the Federal Reserve?s two-day policy meeting ending Wednesday, with investors eager for hints about possible rate cuts later this year. Geopolitical jitters persist as Middle East tensions flare?President Trump called for an urgent evacuation of Tehran following intensified Israeli strikes on Iran?s elite forces and state media facilities. On MCX, August gold delivery fell slightly to Rs 99114 per 10 grams, mirroring global moves amid cautious sentiment.

Powered by Commodity Insights