Gold Down for 4th Week

2026-06-26 13:05 By Joana Taborda 1 min. read

Gold traded around $4,040 per ounce on Friday, edging up for a second consecutive session after the latest US PCE inflation report came in broadly in line with expectations, prompting investors to modestly scale back expectations for Federal Reserve rate hikes this year.

Despite the rebound, gold remains down about 3% for the week, marking its fourth consecutive weekly decline, as the hawkish tone struck by the Fed continued to support the US dollar.

Meanwhile, new Fed Chair Warsh reaffirmed the central bank's commitment to bringing inflation under control, easing concerns that he might yield to pressure from US President Trump to cut interest rates prematurely.

The Fed also raised its 2026 PCE inflation projections.

The headline PCE inflation rate accelerated to 4.1% in May.

Markets are currently pricing in three Federal Reserve rate hikes this year, with the probability of the first increase coming in September standing at around 62%.



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Gold Down for 4th Week
Gold traded around $4,040 per ounce on Friday, edging up for a second consecutive session after the latest US PCE inflation report came in broadly in line with expectations, prompting investors to modestly scale back expectations for Federal Reserve rate hikes this year. Despite the rebound, gold remains down about 3% for the week, marking its fourth consecutive weekly decline, as the hawkish tone struck by the Fed continued to support the US dollar. Meanwhile, new Fed Chair Warsh reaffirmed the central bank's commitment to bringing inflation under control, easing concerns that he might yield to pressure from US President Trump to cut interest rates prematurely. The Fed also raised its 2026 PCE inflation projections. The headline PCE inflation rate accelerated to 4.1% in May. Markets are currently pricing in three Federal Reserve rate hikes this year, with the probability of the first increase coming in September standing at around 62%.
2026-06-26
Gold Set for Sharp Weekly Drop
Gold fell to around $4,000 an ounce on Friday and was on track to lose about 5% for the week as hawkish signals from the US Federal Reserve outweighed support from the impact of US-Iran peace efforts. On Thursday, bullion rebounded modestly after the latest US PCE inflation data came in broadly in line with expectations, easing fears of imminent Fed rate hikes and pushing the dollar and Treasury yields lower. Even so, markets are pricing in an 80% chance of a Fed rate hike in December following last week's hawkish pause, while the probability of a September increase stands at around 63%. Meanwhile, oil prices continued to retreat and have returned to pre-conflict levels as progress in US-Iran peace negotiations eased concerns over Middle East supply disruptions and further reduced inflation worries.
2026-06-26
Gold Rebounds on Thursday
Gold traded above $4,000 per ounce on Thursday, rebounding from earlier losses as a weaker US dollar and lower Treasury yields provided support after the latest US PCE inflation report came in broadly in line with expectations. While inflation remains well above the Fed’s 2% target, the data eased concerns about a sharper-than-expected acceleration in price pressures. Meanwhile, oil prices continued to retreat and have now returned to levels seen before the outbreak of the Iran conflict, further alleviating inflation worries. As a result, traders pared back expectations for additional monetary tightening, with the probability of a Fed rate hike in September falling to 63% from 68% the previous day. Despite Thursday’s rebound, gold remains down roughly 5% year-to-date and nearly 20% below its January record high, reached before the escalation of the conflict involving Iran.
2026-06-25