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Commodities Gold Price Prediction Today: Why Gold May Drop Further; June 24, 2026 Outlook Highlights Bearish Near-Term Bias
Gold prices retreated after a brief rebound from the US-Iran peace agreement, now near $4,090/oz. Hawkish Fed expectations and a stronger dollar drive further downside risk. Near-term support at $4,000, with potential to slide to $3,800 if more rate hikes occur.
Commodities Gold Falls to $4,135 as Dollar Hits One-Year High, Deutsche Bank Cuts Outlook
Gold prices declined 1.6% on Tuesday to $4,135/oz, retreating from a record $5,589/oz, as the US dollar climbed to a one-year high. Deutsche Bank lowered its gold price outlook by more than 20%, warning of a potential fall to $3,800/oz if the Federal Reserve hikes rates three to four times. The dollar's strength and weakening Asian demand are pressuring bullion, while Dubai's commodities exchange announced plans for a same-day settlement gold contract to attract safe-haven demand.