Gold falls 1.42% and silver drops 1.38% as traders price in three Fed rate hikes in 2026
Gold and silver sold off as markets reinforced expectations for three additional Fed hikes in 2026 (September implied probability ~63%), while a firmer USD raised the effective cost of bullion for non-US buyers. Easing Middle East tensions reduced safe-haven demand, and crude above $70/bbl revived inflation concerns, further supporting a hawkish policy path. Traders are focused on upcoming US labor data for confirmation of the rates outlook.
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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On June 30, COMEX gold fell 1.42% to $3,981.50 an ounce and silver slid 1.38% to $57.375. Markets strengthened expectations for three Federal Reserve rate hikes this year, with a 63% probability of a September move, as a firmer dollar and easing Middle East tensions reduced safe-haven demand. Crude oil rising above $70 a barrel added to inflation worries, reinforcing the case for tighter policy. Gold has fallen for four straight weeks and is nearly 30% below its January 2026 peak.