New york: Gold prices swung between gains and losses today as renewed US strikes on Iran drove oil and the dollar higher, stoking inflation fears and reinforcing expectations of higher interest rates, ahead of the Federal Reserve's June meeting minutes.
According to Oman News Agency, spot gold rose 0.5 percent to $4,125.59 per ounce, after earlier touching its lowest level since 2 July 2026, while US gold futures for August delivery slipped 0.5 percent to $4,136.30 per ounce. US oil prices jumped about three percent in early trading, Treasury yields climbed, and the dollar held at its strongest level of the week against most major currencies.
Investors are awaiting the minutes of the Federal Open Market Committee meeting held on 16-17 June, due later today, for fresh signals on the rate path under new Fed Chair Kevin Warsh. Spot silver rose 0.8 percent to $60.47 per ounce, platinum fell 0.3 percent to $1,635.45 per ounce, and palladium declined 0.6 percent to $1,268.64 per ounce.