{"id":1340,"date":"2026-06-08T05:38:15","date_gmt":"2026-06-08T05:38:15","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=1340"},"modified":"2026-06-08T05:38:15","modified_gmt":"2026-06-08T05:38:15","slug":"gold-extends-losses-on-us-interest-rate-hike-fears","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=1340","title":{"rendered":"Gold extends losses on US interest rate-hike fears"},"content":{"rendered":"<div>\n<div>\n<div>\n<ul>\n<li>Summary<\/li>\n<\/ul>\n<\/div>\n<div><\/div>\n<\/div>\n<div>June 8 (Reuters) &#8211; Gold prices \u200bextended losses on Monday on rising fears of a U.S. rate hike \u200cafter a strong jobs report, while renewed hostilities in the Middle East pushed oil prices higher and fanned inflation concerns.<\/div>\n<div>Spot gold fell 0.2% to $4,319.09 per ounce by 0429 GMT. Prices fell about \u200b3% on Friday, hitting the lowest since March 24.<\/div>\n<div>U.S. gold futures for \u200bAugust delivery were down 0.5% at $4,343.20.<\/div>\n<div>&#8220;It is all based on the \u2060hawkishness that the market has started to place on the Fed futures,&#8221; said Kelvin \u200bWong, a senior market analyst at OANDA, adding that higher Treasury yields were further \u200bpressuring gold.<\/div>\n<div>The yield on the benchmark 10-year U.S. Treasury note rose after jumping to a two-week high in the previous session, increasing the opportunity cost of holding non-yielding bullion.<\/div>\n<div>Israel said it struck military targets \u200bin western and central Iran on Monday, even after U.S. President Donald Trump \u200breportedly told Israeli Prime Minister Benjamin Netanyahu to refrain from further attacks.<\/div>\n<div>Oil prices rose more than $3 a \u200cbarrel, \u2060deepening concerns over inflation and interest rate hikes.<\/div>\n<div>While gold is seen as a hedge against inflation, higher interest rates tend to weigh on the non-yielding metal.<\/div>\n<div>The U.S. economy posted a third straight month of strong job gains in May, confirming the labour market \u200bwas gaining traction after \u200bstumbling last year \u2060and giving the central bank more room to keep rates steady amid rising inflation due to the Iran war.<\/div>\n<div>Markets are pricing \u200bin a Federal Reserve rate hike before year-end, with a 72% \u200bchance of \u2060a move by December, according to CME Group&#8217;s FedWatch tool. FEDWATCH<\/div>\n<div>Cleveland Fed President Beth Hammack said on Friday that new jobs numbers show the labour market was roughly in balance and \u2060near \u200bfull employment, while continued high inflation may require the \u200bFed to raise rates soon to contain it.<\/div>\n<div>Spot silver was steady at $67.86 per ounce, platinum lost 0.5% \u200bto $1,767.42, and palladium was unchanged at $1,225.67.<\/div>\n<\/div>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1338\">Tumbling tech darlings slam brakes on AI rally<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1336\">Oil prices climb more than $3 after Israeli strikes on Lebanon<\/a><\/p>\n<p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=1334\">Israel hits Iran with new strikes despite Trump admonition<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices \u200bextended losses on Monday on rising fears of a U.S. rate hike \u200cafter a strong jobs report, while renewed hostilities in the Middle East pushed oil prices higher and fanned inflation concerns.<\/p>\n","protected":false},"author":1,"featured_media":1339,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[57],"class_list":["post-1340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-emerging-markets"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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