Gold Prices Decline

Gold Prices Slip Friday Morning but Hold Above the US$4,000 Per Ounce Mark

Gold prices edged lower during Friday morning trading (June 26, 2026), but continued to trade above the key psychological level of US$4,000 per troy ounce. As of 7:41 a.m. WIB, August 2026 gold futures on the Commodity Exchange were priced at US$4,029.60 per troy ounce, down 0.44% from the previous trading session.

Despite the decline, gold remained relatively resilient around the US$4,000 level after the latest U.S. inflation data eased expectations of additional interest rate hikes.

According to Bloomberg, U.S. inflation increased by less than 0.4% in May 2026, reducing immediate inflation concerns and limiting support for gold prices. However, the precious metal is still expected to post a weekly loss as investors reassess the outlook for monetary policy.

"Gold is facing a more challenging combination of aggressive Federal Reserve repricing, higher real yields, and technical pressure after breaking above the psychological US$4,000 level," said Christopher Wong, a strategist at OCBC, as quoted by Bloomberg.

He added that these factors make the recent gold rally increasingly vulnerable to short-term downside pressure, despite prices remaining above the significant US$4,000 threshold.

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Gold Attempts Rebound

Gold Prices Attempt Rebound on Thursday, but Bearish Sentiment Remains

Gold prices attempted a modest recovery in Thursday morning trading (June 25, 2026), following a sharp decline in the previous session. However, bearish pressure continues to dominate the market amid a stronger U.S. dollar and expectations of higher interest rates.

As of 07:35 WIB, August 2026 Gold Futures on the Commodity Exchange traded at $4,016.90 per troy ounce, up 0.20% from the previous session's close of $4,008.80 per troy ounce.

The precious metal edged higher after suffering significant losses on Wednesday, when gold prices came under pressure from a strengthening U.S. dollar and growing speculation that the Federal Reserve may maintain a tighter monetary policy stance.

“Gold prices are moving in line with market expectations for higher U.S. interest rates, as Federal Reserve Chair Kevin Warsh’s focus on inflation reinforces expectations that the central bank could adopt a more aggressive approach,” said Darwei Kung, Head of Commodities at DWS Group, as quoted by Bloomberg.

Strong Dollar Continues to Weigh on Gold

Expectations of tighter monetary policy have also boosted the U.S. dollar, creating additional headwinds for gold. Since gold is priced in dollars, a stronger greenback makes the precious metal more expensive for international buyers and reduces its attractiveness as an investment.

Gold Rally Loses Momentum After Record High

Gold has delivered impressive gains over the past three years, with prices more than doubling as central banks, institutional investors, and retail traders increased their exposure to the precious metal.

However, the bullish momentum began to fade in late January after gold reached an all-time high near $5,600 per troy ounce.

Since then, the market has experienced a significant correction. By June, gold prices had fallen more than 20% from their record peak, a decline that is widely considered a key threshold signaling the beginning of a bear market.

Gold Price Outlook

Investors remain focused on upcoming U.S. economic data and Federal Reserve policy signals. While gold is attempting to stabilize after recent losses, stronger dollar performance and persistent expectations of higher interest rates continue to pose downside risks for the precious metal in the near term.

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Gold Extends Losses

Gold Prices Fall on Wednesday Morning as Broad Market Sell-Off Intensifies

Gold prices extended their losses during Wednesday's trading session as a widespread sell-off across global financial markets weighed on investor sentiment.

According to Bloomberg data, as of 07:43 WIB, August 2026 gold futures on the Commodity Exchange (COMEX) fell 0.83% to $4,115.10 per troy ounce, down from the previous session's close of $4,149.40 per ounce.

The decline in gold prices was largely driven by heavy selling pressure across financial markets, particularly in the technology sector.

Technology Stock Sell-Off Weighs on Gold

Gold moved closer to the monthly lows reached earlier this month as technology stocks led a broader downturn in global equity markets.

The weakness in the technology sector added further pressure to precious metals, with investors increasingly concerned that persistent inflation risks could prompt the Federal Reserve to maintain a restrictive monetary policy stance.

Higher interest rates generally reduce the appeal of non-yielding assets such as gold by increasing the opportunity cost of holding the precious metal.

Federal Reserve Policy Remains a Key Driver

“Federal Reserve rate adjustments, combined with resilient US macroeconomic data, have played a major role in driving the recent decline in gold prices,” said Michael Hsueh, an analyst at Deutsche Bank, in a research note.

Strong economic indicators have reinforced expectations that the Federal Reserve may keep interest rates elevated for longer than previously anticipated, supporting the US dollar and putting additional pressure on bullion prices.

Deutsche Bank Cuts Gold Price Forecast

Reflecting the changing market outlook, Deutsche Bank has revised its gold price forecast lower for the third quarter of 2026.

The bank now expects gold to average $4,300 per troy ounce during Q3 2026, down from its previous projection of $4,800 per ounce.

The downgrade highlights growing concerns that tighter monetary conditions and stronger economic data could continue to limit upside momentum in the gold market over the coming months.

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