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Gold and silver prices edged lower on Tuesday (June 2) as investors monitored developments in the West Asia and awaited key US economic data and comments from Federal Reserve officials for clues on the interest-rate outlook.
COMEX gold futures were trading at $4,495.20 per ounce, down 0.25% from the previous close, while spot gold was little changed at $4,484.49 per ounce in early Asian trade.
COMEX silver futures fell 0.44% to $74.92 per ounce.
Markets remained focused on geopolitical developments after Lebanon announced a partial ceasefire between Hezbollah and Israel, signalling a limited de-escalation in the regional conflict.
However, uncertainty over US-Iran relations continued after Iranian state media reported that Tehran had halted indirect talks with Washington, while US President Donald Trump said negotiations were progressing rapidly.
Investors are also awaiting US non-farm payroll and employment data due later this week to assess the strength of the labour market and the potential impact of inflationary pressures linked to ongoing geopolitical tensions.
Comments from Federal Reserve policymakers, including Cleveland Fed President Beth Hammack and Fed Governor Michael Barr, are expected to offer further indications on the future path of monetary policy.
Meanwhile, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.3% to 938.03 metric tonnes at the end of last week.
-With Reuters inputsALSO READ | Oil prices steady post biggest gain in a month on US-Iran talks uncertainty
COMEX gold futures were trading at $4,495.20 per ounce, down 0.25% from the previous close, while spot gold was little changed at $4,484.49 per ounce in early Asian trade.
COMEX silver futures fell 0.44% to $74.92 per ounce.
Markets remained focused on geopolitical developments after Lebanon announced a partial ceasefire between Hezbollah and Israel, signalling a limited de-escalation in the regional conflict.
However, uncertainty over US-Iran relations continued after Iranian state media reported that Tehran had halted indirect talks with Washington, while US President Donald Trump said negotiations were progressing rapidly.
Investors are also awaiting US non-farm payroll and employment data due later this week to assess the strength of the labour market and the potential impact of inflationary pressures linked to ongoing geopolitical tensions.
Comments from Federal Reserve policymakers, including Cleveland Fed President Beth Hammack and Fed Governor Michael Barr, are expected to offer further indications on the future path of monetary policy.
Meanwhile, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.3% to 938.03 metric tonnes at the end of last week.
-With Reuters inputsALSO READ | Oil prices steady post biggest gain in a month on US-Iran talks uncertainty
