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Gold Prices Drop on Wednesday (6/24) Morning, Triggered by Selling Activity in Financial Markets
Gold prices continued to decline in Wednesday (6/24/2026) morning trading. Quoting Bloomberg, at 07:43 WIB, the gold price for August 2026 delivery on the Commodity Exchange was at US$ 4,115.10 per troy ounce, down 0.83% from the previous day’s US$ 4,149.40 per troy ounce.
Gold prices fell, triggered by massive selling activity sweeping through financial markets.
Quoting Bloomberg, gold prices approached the lowest level reached earlier this month, as technology stocks plummeted, leading the decline in global stock markets.
The decline in the technology sector added pressure on precious metals, which are burdened by concerns that prolonged inflation risks will push up the benchmark interest rate of The Fed.
"Interest rate adjustments by The Fed, along with resilient US macroeconomic data, have played a major role in driving the decline in gold prices," said Deutsche Bank AG analyst Michael Hsueh in a note.
Deutsche Bank lowered its gold price forecast to US$ 4,300 per troy ounce for the third quarter, from the previous estimate of US$ 4,800 per troy ounce.
Gold Prices Drop on Wednesday (6/24) Morning, Triggered by Selling Activity in Financial Markets
Gold prices continued to decline in Wednesday (6/24/2026) morning trading. Quoting Bloomberg, at 07:43 WIB, the gold price for August 2026 delivery on the Commodity Exchange was at US$ 4,115.10 per troy ounce, down 0.83% from the previous day’s US$ 4,149.40 per troy ounce.
Gold prices fell, triggered by massive selling activity sweeping through financial markets.
Quoting Bloomberg, gold prices approached the lowest level reached earlier this month, as technology stocks plummeted, leading the decline in global stock markets.
The decline in the technology sector added pressure on precious metals, which are burdened by concerns that prolonged inflation risks will push up the benchmark interest rate of The Fed.
"Interest rate adjustments by The Fed, along with resilient US macroeconomic data, have played a major role in driving the decline in gold prices," said Deutsche Bank AG analyst Michael Hsueh in a note.
Deutsche Bank lowered its gold price forecast to US$ 4,300 per troy ounce for the third quarter, from the previous estimate of US$ 4,800 per troy ounce.