Gold slips toward $4,400 as oil surge revives inflation risks

Gold futures slipped toward $4,400 an ounce on Tuesday, retreating after two consecutive sessions of gains as rising oil prices and renewed geopolitical uncertainty weighed on the metals market. The lapse of the US-Iran interim peace agreement has heightened inflation concerns, while traders assess its impact on oil prices and Treasury yields. The dollar index hovered near 99.5, close to two-month lows, as weaker US data reduced expectations of tighter Fed policy. Investors now await the July FOMC minutes and Kevin Warsh?s Jackson Hole remarks for further policy clues. MCX October gold futures fell 0.54% to ₹155,101 per 10 grams.

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