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BULLION EXTENDS LOSSES AHEAD OF KEY US JOBS REPORT

Published on Jun 03, 2026 14:48

Gold prices fell below $4,500 per ounce on Wednesday, extending recent losses after stronger-than-expected US labor market data reinforced expectations that the Federal Reserve could keep interest rates higher for longer. A surge in job openings and lower layoffs highlighted the resilience of the US economy, reducing hopes for near-term rate cuts. Meanwhile, rising oil prices amid uncertainty surrounding US-Iran negotiations fueled inflation concerns, supporting a firmer dollar index above 99.3 and adding pressure on bullion. Investors now await the ADP employment report and Friday�s nonfarm payrolls data for further clues on the Fed`s policy path. Reflecting the weakness in global markets, MCX August gold futures declined around 0.5% to Rs 1,58,594 per 10 grams.

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