By Pablo Sinha<\/p>\n
April 6 (Reuters) – Gold prices fell on Monday, pressured by a stronger dollar as elevated oil prices on the back of \u200ca protracted Iran war and stronger-than-expected U.S. jobs data dampened hopes for \u200cinterest rate cuts by the Federal Reserve.<\/p>\n
Spot gold slipped 0.5% to $4,652.89 per ounce by 0452 GMT, \u200bwhile U.S. gold futures for April delivery held steady at $4,678.70 in thin trade, with many markets in Asia and Europe closed for a holiday.<\/p>\n
Data on Friday showed that U.S. nonfarm payrolls increased by 178,000 jobs in March, the most since \u200cDecember 2024, while the unemployment \u2060rate fell to 4.3%. The 10-year U.S. Treasury yield and the dollar index gained, pressuring greenback-priced bullion.<\/p>\n
Brent oil prices climbed \u2060as the U.S.-Israeli war with Iran continued to disrupt global energy supplies. [O\/R][USD\/] [US\/]<\/p>\n
“The latest robust NFP print has reinforced hawkish central bank nerves, while persistent oil-driven inflation fears continue \u200bto \u200bcrowd out gold’s traditional safe-haven sparkle,” said \u200bTim Waterer, chief market analyst, KCM \u200cTrade.<\/p>\n
U.S. President Donald Trump threatened to rain “hell” on Tehran if it did not make a deal and reopen the Strait of Hormuz by Tuesday, while recent U.S. intelligence assessments suggest Iran is unlikely to reopen the passage any time soon.<\/p>\n
The surge in crude prices have stoked concerns about inflationary pressures. While gold \u200cis traditionally seen as a hedge against \u200binflation, elevated interest rates tend to dampen demand \u200bfor the non-yielding asset.<\/p>\n
Traders have \u200balmost completely priced out any chances of a Fed rate \u200ccut this year. Before the Iran war \u200bbegan, there were \u200bexpectations of two reductions this year.<\/p>\n
COMEX gold speculators increased net long positions by 1,098 contracts to 93,872 in the week ended March 31. [CFTC\/]<\/p>\n
Spot silver \u200bfell 0.9% to $72.34 per \u200counce, spot platinum shed 0.6% to $1,977.29, while palladium edged 0.3% higher \u200bto $1,500.25.<\/p>\n
(Reporting by Pablo Sinha in Bengaluru; additional reporting by Swati Verma; \u200bEditing by Sumana Nandy and Mrigank Dhaniwala)<\/p>\n","protected":false},"excerpt":{"rendered":"By Pablo Sinha April 6 (Reuters) – Gold prices fell on Monday, pressured by a stronger dollar as…\n","protected":false},"author":2,"featured_media":377410,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[4318,5275,42,12980,87,117780,43,6807,40,38,41,39,6978],"class_list":{"0":"post-377409","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-federal-reserve","9":"tag-gold-prices","10":"tag-headlines","11":"tag-interest-rate","12":"tag-iran","13":"tag-iran-war","14":"tag-news","15":"tag-oil-prices","16":"tag-top-news","17":"tag-top-stories","18":"tag-topnews","19":"tag-topstories","20":"tag-u-s-treasury"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/377409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=377409"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/377409\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/377410"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=377409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=377409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=377409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}