Gold futures slide to test seven-month lows on interest rate headwinds.

Gold futures fell 1.5% to trade at 4,038, approaching the seven-month closing low of 4,009 established last week. The precious metals complex faced broad selling pressure throughout June, driven by rising yields on the short end of the interest rate curve. A resilient U.S. dollar holding near the top of its recent range added further headwinds for both gold and silver futures. While palladium posted slight gains, other major metals declined, with platinum futures leading the sell-off down 3.5%.