Gold prices slipped below $4,700 an ounce on Wednesday as a stronger dollar and rising Treasury yields dented bullion's safe-haven appeal.
Spot gold dipped 0.35 percent to $4,697 an ounce while U.S. gold futures were up half a percent at $4,707.75.
The U.S. dollar held near a one-week high as investors assessed the path for interest rates under new leadership.
U.S. Treasury yields fell slightly after rising on Tuesday in reaction to hotter-than-expected U.S. CPI data.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.