Gold cracks below $4,300 as dollar, yields surge

Gold futures tumbled toward $4,300 an ounce in Asia electronic trade on Thursday, extending the previous session?s losses as a firmer dollar and surging Treasury yields weighed on bullion. Stronger-than-expected US private-sector data revived inflation concerns and reinforced expectations for further Fed rate hikes, with several officials backing last week?s increase while flagging persistent price pressures. The dollar index held near 101, its highest level in almost two months, while a nearly 3% rebound in oil added to inflationary risks amid Iran?s firm stance on the Strait of Hormuz. MCX October gold futures traded 0.5% lower at ₹150,591 per 10 grams.

Powered by Commodity Insights