Gold prices fell. Spot gold was down 0.5 per cent at $4,067.99 per ounce. U.S. gold futures for August delivery lost 0.4 per cent to $4,081.20. U.S.-Iran hostilities pushed oil prices higher, while expectations of U.S. Federal Reserve interest rate hikes further weighed on the metal. Gold speculators raised net long positions by 91 contracts to 113,010 in the week ended June 23. Spot silver fell 1.1 per cent to $58.49 per ounce, platinum gained 0.4 per cent to $1,620.15, while palladium lost 0.4 per cent at $1,204.25.Iran launched missiles and drones at U.S. military sites in Kuwait and Bahrain early on Sunday, shortly after U.S. President Donald Trump threatened to wipe out the Iranian leadership if they did not stick to the agreement to end their war. Gold touched a new record just shy of $5,600 per ounce at the end of January, and averaged $4,873 per ounce over the quarter. High prices, driven largely by investment holdings, hit demand for jewellery, however. The jewellery market was also disrupted by the war, with the Middle East a key shipping hub.However, Tehran and Washington agreed to halt recent hostilities in the Gulf and renew talks regarding their dispute over the Strait of Hormuz, Axios reported on Sunday.Oil prices rose following days of tit-for-tat strikes by the United States and Iran in the Middle East that underscored the fragility of their interim peace deal and again slowed energy shipping in the Strait of Hormuz.Data on Thursday showed that U.S. inflation accelerated in May, breaking above 4 per cent for the first time in three years as the Middle East conflict boosted energy prices.Live EventsTraders expect three Fed rate hikes this year and are pricing in an about 77 per cent chance of a December increase, according to the CME FedWatch Tool.Gold started trading at a premium in India last week for the first time in a month and a half, as a price correction lifted buying, while demand stayed subdued in top consumer China.
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Market Closed - NYSE 04:00:03 2026-06-26 pm EDT 5-day change 1st Jan Change 26.78 USD -1.54% +1.40% +22.34% Published on 06/28/2026 at 08:55 pm EDT...
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