Gold Prices Fall for Fifth Straight Week on Strong Dollar, ETF Outflows
Gold | 2026-06-30 06:05:10
The LBMA Gold Price PM settled the week at US$4,072 per ounce, down 1.9% from the previous week. The prices of the yellow metal have declined 6.8% year-to-date.
By Paul Ploumis
SEATTLE (Scrap Monster): Gold prices declined for a fifth consecutive week as easing geopolitical tensions in the Middle East, a stronger U.S. dollar, and heavy ETF selling continued to weigh on the precious metal, said the Weekly Markets Monitor Report published by the World Gold Council (WGC).
The LBMA Gold Price PM settled the week at US$4,072 per ounce, down 1.9% from the previous week. The prices of the yellow metal have declined 6.8% year-to-date.
The renewed peace efforts between the United States and Iran brought slight optimism to the markets worldwide. The economic data pointed to continued resilience in the U.S., while growth improved modestly in the eurozone and Japan. India showed a slight slowdown, while China maintained its benchmark interest rates.
Market sentiment was further influenced by a stronger U.S. dollar and significant global gold ETF outflows, both of which reduced demand for bullion. The prices remained under pressure following expectations that the Federal Reserve could maintain a tighter monetary policy.
Technical indicators suggest gold’s support near US$3,857 per ounce, a key long-term retracement level. Immediate resistance is seen around US$4,221, with stronger barriers between US$4,474 and US$4,499.
Looking ahead, investors will closely monitor upcoming U.S. employment data, manufacturing activity reports, and the Federal Reserve's policy decisions.
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Frequently Asked Questions
- Why did gold prices fall for a fifth consecutive week?
Gold weakened due to easing Middle East tensions, a stronger U.S. dollar, significant ETF outflows, and expectations that the Federal Reserve could maintain a tighter monetary policy.
- What was the LBMA Gold Price PM at the end of the reporting week?
The LBMA Gold Price PM settled at US$4,072 per ounce, down 1.9% from the previous week and 6.8% lower year to date.
- Which factors could influence gold prices in the coming weeks?
Investors will closely track U.S. employment data, manufacturing activity, and the Federal Reserve's policy decisions, all of which could shape gold's near-term direction.
