Gold extended its decline from Asian into European trading on June 10, with spot gold falling below $4,200 an ounce for the first time since March 23, according to Gate data. NYMEX August gold futures were at $4,188.70 by 17:15 Beijing time, down 2.28% on the day and 3.51% for 2024, wiping out the market's year-to-date gains. Analysts attributed the selloff to stronger-than-expected U.S. nonfarm payrolls, which boosted expectations that the Federal Reserve could raise interest rates, a backdrop that typically pressures non-yielding assets such as gold.