\n 2026-07-06T17:11:22+00:00<\/p>\n
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Shafaq News<\/p>\n
Gold prices retreated \u200bfrom two-week highs on Monday,
\npressured by a firmer U.S. dollar, \u200cthough losses were limited as signs of a
\ncooling U.S. labour market eased expectations of a Federal Reserve rate hike.<\/p>\n
Spot gold was down 0.8% at $4,143.12 per ounce by
\n12:02 p.m ET (1602 \u200bGMT) after hitting its highest since June 22.<\/p>\n
U.S. gold futures for August \u200bdelivery climbed 0.7% to
\n$4,155.50 per ounce.<\/p>\n
“The US dollar index is a \u2060little higher today
\nand that is a daily bearish element (for gold),” said Jim \u200bWyckoff, a
\nmarket analyst at American Gold Exchange.<\/p>\n
The dollar gained 0.2%, making the yellow \u200bmetal more
\nexpensive for overseas buyers.<\/p>\n
Data last week showed a marked slowdown in U.S. job
\ngrowth in June alongside downward revisions to payrolls for the prior two
\nmonths, leading markets to scale \u200bback expectations of a near-term Fed rate
\nhike.<\/p>\n
While gold is often seen as \u200ba hedge against
\ninflation, higher interest rates tend to negatively impact the non-yielding
\nbullion.<\/p>\n
Investors now await \u200cthe \u2060minutes from the Fed’s last
\nmeeting, due on Wednesday.<\/p>\n
“Traders are going to be examining those minutes
\nto see if they can glean any other clues for the trajectory of U.S. monetary
\npolicy and any surprises that come out of those minutes \u200bwould certainly be
\nmarkets \u200bmoving,” Wyckoff said.<\/p>\n
Market \u2060participants are now pricing in about a 57%
\nchance of a rate hike in September, according to the CME FedWatch \u200bTool.<\/p>\n
J.P Morgan said in a note on Friday that demand for
\n\u200bgold from \u2060key sectors would not be as strong as it had expected, limiting the
\nrise in gold prices this year to $4,300\/oz in the third quarter and $4,500\/oz
\nin the fourth \u2060quarter.<\/p>\n
Among other \u200bmetals, spot silver dropped 1.2% to
\n$61.63 per ounce \u200bafter hitting its highest since June 23 earlier.<\/p>\n
Platinum fell 0.7% to $1,626.10, and palladium slid
\n0.8% to $1,264.16 per \u200bounce.<\/p>\n
(Reuters)<\/p>\n
Only the headline is edited by Shafaq News Agency.<\/p>\n","protected":false},"excerpt":{"rendered":"2026-07-06T17:11:22+00:00 font Enable Reading Mode A- A A+ Shafaq News Gold prices retreated \u200bfrom two-week highs on Monday,…\n","protected":false},"author":2,"featured_media":746947,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[16993,4,450,15021,320580,451,112,3,1052,452,453],"class_list":["post-746946","post","type-post","status-publish","format-standard","has-post-thumbnail","category-breaking-news","tag-breaking","tag-breaking-news","tag-breakingnews","tag-gold","tag-gold-prices-slip-from-two-week-peak","tag-headlines","tag-markets","tag-news","tag-prices","tag-top-stories","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/746946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=746946"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/746946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/746947"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=746946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=746946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=746946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}