Gold is heading for its third weekly loss due to the strength of the dollar and signs of monetary tightening.
Gold is heading for its third weekly loss due to the strength of the dollar and signs of monetary tightening.
2026-06-19
Shafaq News – Erbil
Gold prices fell slightly on Friday, heading for their third consecutive weekly decline, pressured by rising dollar levels and signals of monetary tightening from the Federal Reserve (the US central bank), which negatively affected the appeal of the non-yielding yellow metal.
Gold fell 0.5% in spot trading to $4,189.26 per ounce by 00:43 GMT, while U.S. gold futures for August delivery dropped 0.9% to settle at $4,207.80. The dollar held near its highest level in a year, making the dollar-denominated precious metal more expensive for investors holding other currencies.
This decline coincided with a decrease in security concerns in the financial markets, following the resumption of oil tanker transit through the Strait of Hormuz and the United States’ announcement on Thursday that it was lifting its blockade on Iranian ports, as the interim peace agreement came into effect, despite the fact that thorny issues between the two countries remain unresolved.
As the direct conflict subsided, the inflationary pressures stemming from the war of the past months came to the fore, reaching such high levels that they forced central banks around the world to take action. A growing number of these banks, most notably the US Federal Reserve, either raised borrowing costs or hinted at imminent steps to curb inflation.
As for other precious metals, silver fell 0.8% in spot trading to $65.32 an ounce, while platinum declined 0.9% to $1,680.87, and palladium dropped 0.5% to $1,272.
shafaq.com
