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Gold falls to six-month low, weighed down by oil prices

2026-06-11 20:47:23, Ekonomi CNA

Gold falls to six-month low, weighed down by oil prices

The price of gold fell to its lowest level in more than six months as speculative investors retreat from the market and expectations of higher U.S. interest rates are reducing the precious metal's appeal as a safe haven asset.

Gold fell to $4,022 per troy ounce, its lowest level since late last year. Since its peak in January, the precious metal has lost more than 20%, posting one of its worst quarterly performances in nearly a decade.

The decline is related to several factors at once. Rising oil prices, driven by tensions in the Middle East, have increased fears of higher inflation and strengthened expectations that the Reserve

The U.S. Federal Reserve could keep interest rates high for longer, even raising them until the end of the year. For an asset that doesn't generate interest, like gold, higher rates make the investment less attractive.

Another factor is the outflow of speculative capital. Funds and investors who entered the market during the strong price increase are closing their positions. In the March-May period alone, gold-linked investment funds recorded net outflows of about 55 tons, while retail investor interest has waned significantly.

According to analysts, some capital is shifting towards assets that offer higher returns, such as government bonds, while expected public offerings of technology companies, including the long-awaited IPO of SpaceX, are also attracting interest.

However, not everyone is pessimistic about the long-term outlook for the precious metal. Central banks continue to remain net buyers of gold and this factor is expected to provide support for the market, although in the short term prices may remain under pressure.

According to Reuters, gold recovered some of its losses during the last trading session, rising 0.6% to around $4,097 an ounce, but analysts warn that without a change in interest rate expectations, pressure on the price could continue./Financial Times 





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