Gold Slips 0.3% to $4,245.99 as Hawkish Fed and Dollar Gain Bite
Updated
Updated · Reuters · Jun 18
Gold Slips 0.3% to $4,245.99 as Hawkish Fed and Dollar Gain Bite
3 articles · Updated · Reuters · Jun 18
Summary
Spot gold fell 0.3% to $4,245.99 an ounce on Thursday, after a 1.7% drop the previous session, while U.S. gold futures slid 2.6% to $4,265.50.
The U.S. dollar index rose 0.7%, and the Fed held rates steady while signaling borrowing costs could rise later this year, cutting the appeal of non-yielding bullion.
CME FedWatch now shows an 88% chance of a December rate hike, and one analyst said the Fed's stance leaves gold more likely to revisit sub-$4,000 than reclaim $5,000 in 2026's second half.
ANZ said ETF outflows and lighter positioning show weak investment demand, though Chinese physical buying and central-bank purchases are still underpinning the market.
Other precious metals also weakened, with silver down 1% to $67.29, platinum off 2.1% and palladium falling 2.6%.