Sign In

Delhi News Daily

  • Home
  • Fashion
  • Business
  • World News
  • Technology
  • Sports
  • Politics
  • Lifestyle
  • Entertainment
Reading: Gold poised for weekly loss as US delays decision on Middle East involvement – Delhi News Daily
Share

Delhi News Daily

Font ResizerAa
Search
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Delhi News Daily > Blog > Business > Gold poised for weekly loss as US delays decision on Middle East involvement – Delhi News Daily
Business

Gold poised for weekly loss as US delays decision on Middle East involvement – Delhi News Daily

delhinewsdaily
Last updated: June 21, 2025 7:12 am
delhinewsdaily
Share
SHARE


Gold prices were steady on Friday and poised for a weekly loss after U.S. President Donald Trump delayed a decision on entering the Israel-Iran conflict.

Spot gold was little changed at $3,368.68 an ounce, as of 0142 p.m. EDT (1742 GMT), its lowest since June 12, while the index was down 1.8% for the week.

U.S. gold futures settled 0.7% lower to $3,385.70.

“Gold is holding steady as Trump backtracks on an ‘imminent’ attack on Iran. For the moment, it seems all the bad news is out,” said Tai Wong, an independent metals trader.

“A drawdown towards $3,250/oz is possible, but dips have been aggressively bought in this gold rally.”

ET logo

Live Events


Trump will decide in the next two weeks whether the United States will get involved in the Israel-Iran air war, the White House said on Thursday, raising pressure on Tehran to negotiate. Iran launched a new barrage of missiles at Israel early on Friday, striking near residential apartments, office buildings and industrial facilities in the southern city of Beersheba. Gold is traditionally considered a hedge during times of political and economic uncertainty.

Meanwhile, the U.S. central bank held interest rates steady on Wednesday. While policymakers still anticipate cutting rates by half a percentage point this year, they slightly slowed the pace from there to a single quarter-percentage-point cut in each of 2026 and 2027.

A high-interest-rate environment is unfavourable to gold as it is a non-yielding asset.

“We still see sound demand from safe-haven seekers and central banks, which should provide sound support to gold prices on current levels,” said Carsten Menke, an analyst at Julius Baer.

Spot silver fell 1% to $36.02 per ounce, and was down 0.7% for the week. Palladium lost 0.1% to $1,049 but was up 2.1% during the week. Platinum dropped 3.1% to $1,266.72, but on track for its third straight weekly gain.



Source link

Share This Article
Twitter Email Copy Link Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article The Hunt- The Rajiv Gandhi Assassination Case OTT Release Date Revealed The Hunt- The Rajiv Gandhi Assassination Case OTT Release Date Revealed – Delhi News Daily
Next Article News18 Nitish Kumar Govt Raises Social Security Pension From Rs 400 To Rs 1100 Ahead Of Bihar Polls – Delhi News Daily
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Ben Stokes press conference: On Jasprit Bumrah ‘problem’, Rishabh Pant battle and more – Delhi News Daily
  • ‘Under review’: Israel launches probe into its deadly Gaza cafe strike; says it targeted ‘Hamas terrorists’ – Times of India – Delhi News Daily
  • Karnataka Leadership Change Buzz & Congress’s Subtle Art Of Not Holding On To States Decoded – Delhi News Daily
  • Donald Trump returns to center stage at Disney’s Hall of Presidents with a new look | World News – Times of India – Delhi News Daily
  • Mega trend emerging in silver, time to sell gold and top up in silver? Gautam Shah answers – Delhi News Daily

Recent Comments

No comments to show.

You Might Also Like

Business

Indostar banks on improving asset quality, branch expansion for growth – Delhi News Daily

The stock of Indostar Capital has gained 21% since its March quarter result declared on April 29 compared with nearly…

3 Min Read
Business

Fund Manager Talk | Sanjay Bembalkar warns against chasing story stocks – Delhi News Daily

The market rally seen in the last 3-4 months has made seasoned fund managers increasingly selective about where they deploy…

7 Min Read
Business

Buy the Dip: Dharmesh Shah sees midcap, smallcap rally ahead – Delhi News Daily

"The biggest resistance for the Nifty for last five weeks was around 25,200, we have been consolidating in this 700…

4 Min Read
Business

“Unjust war imposed on my people”: Iran FM calls for international action at UN Human Rights Council – Delhi News Daily

Iran's Foreign Minister Seyyed Abbas Araqchi strongly condemned Israel's recent attacks on Iranian territory, describing it as an "unprovoked aggression"…

3 Min Read

Delhi News Daily

© Delhi News Daily Network.

Incognito Web Technologies

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?