10:48 - 30.06.2026

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June 30, Fineko/abc.az. Amid decreasing geopolitical risks in the Middle East and strengthening of the US dollar, global gold prices fell more than by 1% on Tuesday, updating multi -year anti-records.

ABC.AZ informs, referring to trading data, that the spot price of gold decreased by 1.5% to $3,956.92 per ounce. Thus, the drop for the month reached 12.7%, which was the sharpest monthly decline since October 2008. The precious metal has been  falling for the fourth month in a row.

Key factors of pressure and price ranges:

The Fed factor and the strong dollar: Expectations of further tightening of the US Federal Reserve's monetary policy (the probability of a rate hike in September is estimated at 64%) are making gold less attractive as a defensive asset. According to Marex analysts, gold prices are expected to fluctuate between $3,500 and $4,400 per ounce in the 2nd half of the year. The dynamics of other metals and oil: Expectations of negotiations between the U.S. and Iran.

Doha is driving the oil market to its biggest quarterly drop since 2020. Following gold, silver fell 2% to $57.13, platinum sank to $1,557.21, and palladium to $1,208.17.