COMEX gold dips to $3,999 an ounce as dollar hits 13-month high; silver slides 1.77%

On June 25, COMEX gold fell to $3,999 an ounce, slipping below the $4,000 level, while COMEX silver dropped 1.77% to $57.06 an ounce. The move followed a broad rally in the US dollar index to a 13-month high, while markets priced in as many as three additional Federal Reserve rate hikes this year, with elevated odds for September, raising the opportunity cost of holding non-yielding assets. Investors are awaiting US data including the PCE price index and GDP for clues on the policy path.