Gold slips below $4,100 ahead of Fed minutes

Gold futures slipped towards the $4,100-an-ounce level on Tuesday, while MCX August gold futures declined more than 1% to Rs 145,431 per 10 grams, as investors turned cautious ahead of the Federal Reserve's June meeting minutes. The recent rally, fuelled by weaker-than-expected US jobs data and easing expectations of near-term rate hikes, lost momentum as traders booked profits before the key policy release. Despite the US dollar remaining below the 101 mark following softer labour market data, a modest intraday recovery in the greenback weighed on bullion prices. Investors are also monitoring the latest US trade deficit data for additional signals on the economic outlook and the Federal Reserve's next policy move.

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