United States gold prices suffer steep June collapse | JQJO

United States – Gold prices fell sharply on Tuesday, June 30, 2026, putting the precious metal on track for its steepest monthly drop since the October 2008 global financial crisis. Spot gold traded at $3,985.57 per ounce, down 0.8% on the day and 12.1% lower for June, while U.S. gold futures for August delivery slipped 1% to $3,999.20 per ounce. The slide marks gold’s fourth consecutive monthly loss and its first quarterly decline since 2024, as well as the largest quarterly fall since the second quarter of 2013, underscoring how abruptly sentiment has turned against the traditional safe-haven asset.

United States – The sell-off follows a powerful rally earlier in 2026, when gold surged to record highs near $4,700 per ounce amid intense geopolitical anxiety over the conflict involving the United States, Israel, and Iran. That war drove an energy shock, pushed crude oil prices sharply higher, and fueled fears of broader global instability, boosting demand for gold. However, a fragile ceasefire and de-escalation agreement between Washington and Tehran, along with the resumption of commercial shipping through the Strait of Hormuz, has sharply reduced the geopolitical risk premium. Combined with a strengthening U.S. dollar and expectations of more aggressive Federal Reserve interest rate policy, these developments have pressured gold lower and unwound much of this year’s earlier gains.