Gold prices slide to 3-month low

Gold prices declined for the third straight session today, June 29, extending their lowest levels in more than three months as major central banks reiterated statements about monetary tightening to combat inflation.

Gold spot prices fell 0.1% to $1,905.59 per ounce at 0749 GMT, while futures inched 0.4% lower at 1,913.80.

The US Federal Reserve Chair Jerome Powell did not rule out further hikes at the central bank’s next meeting while European Central Bank President Christine Lagarde cemented expectations for a ninth consecutive rise in euro zone rates in July.

Silver sport prices rose 0.3% to $22.79, and platinum was up 0.8% to $917.90.

Palladium increased 0.3% to $1,252.16, but still above its four-and-a-half-year low hit in the previous session at $1,208.50.

 Source : Argaam