Gold slips below $4700 as oil surge lifts inflation concerns

Gold prices edged lower below $4700 per ounce in volatile trade, as rising oil prices and stalled US-Iran talks kept inflation concerns elevated, reinforcing expectations of a cautious Federal Reserve stance. Silver also fell over 1% to below $76, with its industrial exposure amplifying losses amid shifting growth and inflation signals. Meanwhile, a softer dollar near 98.5 offered limited support to bullion. On the domestic front, MCX June gold futures slipped 0.3% to Rs 152250 per 10 grams. Markets remain focused on Fed policy, with rates expected to stay unchanged in what could be Jerome Powell?s final meeting as chair, while geopolitical developments continue to drive short-term price movements.

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