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Updated · USA TODAY · Jun 11Gold Drops 3.15% to $4,085.79 an Ounce, Down 14.29% From a Month Ago
2 articles · Updated · USA TODAY · Jun 11Summary
- $4,085.79 per ounce was gold's spot price at 8:05 a.m. ET on June 11, down $132.97 from the previous close of $4,218.76.
- The move left bullion 8.29% below a week-ago level of $4,455.36 and 14.29% under its month-ago price of $4,767.16.
- Even after the slide, gold remains 22.79% above its year-ago price of $3,327.49.
- Key reference points still show a volatile market: gold is 25.41% below its 52-week high of $5,477.79 and 25.04% above its 52-week low of $3,267.56.
Insights
With gold prices crashing below key levels, why do top banks still predict record highs this year? Is China's relentless gold buying a strategic move against the dollar amid escalating US-Iran tensions? Will the Fed's fight against oil-fueled inflation inadvertently trigger a stagflation-driven rally for gold?