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Gold extended its decline on Monday, falling more than 3% as higher US Treasury yields, a firmer dollar and expectations surrounding further Federal Reserve interest rate increases remained in focus. At 04:58 ET, spot gold was down 3.
Gold and silver extend their losses ahead of US inflation and jobs data, putting gold’s $4,200 level and silver’s $60 support in focus.
Gold prices are falling and multiple global factors are likely to continue adding pressure, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. Let’s take a look: