Gold Hovers Near 8-Month Low

2026-06-30 17:00 By Andre Joaquim 1 min. read

Gold was at $4,030 per ounce on Tuesday, holding near their lowest in nearly eight months as restrictive monetary policy by the Fed was combined with a reversal of the dollar debasement trade.

Gold was set to drop 11% in Q2, its worst quarter in decades.

Strength in recent economic data consolidated a backdrop that supports the hawkish view of a large portion of FOMC members.

The JOLTS pointed to the highest number of job openings in two years and analysts have penciled another sharp month of non-farm payroll gains in June.

On top of that, the latest core inflation prints remained departed further from the Fed's 2% target.

The aggressive pullback for gold was aligned with the elevated yields for Treasury notes and bonds, favoring coupon-bearing assets instead of bullion.

Fed Chairman Warsh announced the pending creation of task forces to evaluate the need for the central bank's large balance sheet, setting the stage for the bond-selling that he has campaigned for previously.



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