Gold Prices Slide Amid Geopolitical Tensions and Expectations of Tighter US Monetary Policy

Gold prices declined on September 2 as investors weighed renewed geopolitical tensions in the Middle East against expectations of tighter US monetary policy.

The COMEX gold futures fell by 1.06% to $4,349.80 per ounce during early trading, while silver dropped by 1.68% to $64.27 per ounce.

Domestic MCX futures for the October contract traded 1.06% down to Rs 1,50,123 per 10 grams, and the silver contract for September fell 1.38% to Rs 2,32,197 per kilogram from its previous session.

The focus now shifts to this week's key US Non-Farm Payrolls and Unemployment data, which may influence the Fed's rate outlook further.