Gold Prices Fall as Hawkish Fed, Stronger Dollar Pressure Market
Gold | 2026-06-23 06:24:50 | By Paul Ploumis
Gold continues to trade near a critical technical support zone around US$4,075 per ounce.
SEATTLE (Scrap Monster): Gold prices remained under pressure during the most recent week as investors, primarily driven by a hawkish Federal Reserve stance, rising bond yields, and a strengthening U.S. dollar.
The LBMA Gold Price PM closed at US$4,151 per ounce, recording a weekly decline of 0.8%. The gold prices have dipped by approximately 5% so far this year.
The Federal Open Market Committee (FOMC) meeting and Federal Reserve Chairman Warsh’s comments reinforced expectations for a tighter monetary policy in order to control inflation. This pushed bond yields and the U.S. Dollar Index (DXY) higher, creating headwinds for gold prices.
The signing of the memorandum of understanding aimed at putting an end to the U.S.-Iran tensions provided some support to market sentiment. However, inflation concerns remain elevated due to ongoing geopolitical uncertainties in the Middle East, including renewed tensions around the Strait of Hormuz.
Gold continues to trade near a critical technical support zone around US$4,075 per ounce. As per analysts’warnings, a sustained breakout in the U.S. dollar above key resistance levels could trigger additional downside pressure on bullion. On the upside, resistance is seen near US$4,382 per ounce.
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