Gold under pressure as Fed signals and Middle East risks loom

Gold futures slipped below $4,400 an ounce in Asia on Monday as investors weighed developments in the Middle East and their potential impact on inflation and interest rates. Attention now turns to several Federal Reserve officials? appearances this week for fresh clues on the monetary-policy outlook. The dollar index steadied near 100 after gaining more than 1% last week following the Fed?s rate hike and hawkish signals, keeping pressure on bullion. Silver also eased toward $66 an ounce, ending a two-day winning streak, while domestic silver futures slipped below Rs 2,40,000 per kg. On MCX, October gold futures traded 0.6% lower at Rs 1,53,461 per 10 grams. Meanwhile, oil prices extended their decline for a fourth straight session amid signs of increased diplomatic efforts to ease the Middle East conflict and restore regional energy flows.

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