Gold falls to $4068
Gold falls to $4068
7-13-2026
Information/Baghdad…
Gold prices declined in global markets on Monday amid growing expectations of continued US monetary tightening to combat inflation and rising global energy prices. Spot gold fell 1.2% to $4,068.91 an ounce in Singapore trading, after posting weekly losses of 1.4%, with prices falling as low as $4,060 an ounce during the session.
Investors focused on the impact of rising energy prices on inflation and what might prompt the US Federal Reserve to maintain high interest rates for a longer period, a factor that typically puts pressure on gold, which does not offer a yield.
Financial markets are awaiting US inflation data for June this week, along with Federal Reserve Chairman Kevin Warsh’s testimony before Congress, amid indications from the June meeting minutes of growing concern among some central bank officials about persistent inflation.
It is worth noting that gold has fallen by more than 20% since late February, after a wave of profit-taking ended a three-year rally. It briefly dipped below $4,000 an ounce for the first time since last November. Prices of other metals also declined, with silver falling 1.8% to $58.82 an ounce, while platinum and palladium also dropped.
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