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Gold briefly fell below $4,000 before bargain buying emerged, and was heading for its largest quarterly loss in 13 years. June's monthly decline was around 11%, and ETF holdings fell by more than 40 tons since the start of the quarter.
Traders now price in a Fed rate hike.
Higher bond yields and a stronger dollar from hawkish Fed expectations pressure dollar-priced commodities. Upcoming US labour data could drive the next move in the dollar and in rate-sensitive assets.
fxstreet.comFXStreet Insights TeamJun 30, 2026After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
