Gold lands with the rise of the dollar amid the anticipation of the markets to return Iran
June 23, 2025
Gold prices
Gold prices recorded a decline, during the early two trading, with investors’ preference for the dollar after the American attack on important Iranian nuclear sites early Sunday, while the markets are closely monitoring Iran’s reaction.
Prices update
By 0532 GMT, gold fell 0.4 percent to 3354.03 dollars an ounce. US gold futures fell 0.5 percent to $ 3369.10 an ounce.
“The American strikes on Iranian nuclear establishments led to the demand for the dollar to buy as a safe haven in the currency market,” said Tim Water, chief market analyst in K.C
He added, “The rise in the value of the dollar led to the decline in gold, and caused a weak, unusual performance of the precious metal, despite the risks resulting from the conflict.”
The dollar rose 0.3 percent against the main currencies, which increased the cost of gold on other currencies.
On Sunday, US President Donald Trump raised the issue of regime change in Iran in the wake of US strikes on major military sites, while senior officials in his administration, Tehran, warned of the response.
Tehran vowed to respond a day after the United States was dropped by 30,000 pounds of fortifications on the mountain over the Iranian Fordo nuclear site.
The exchange of missile attacks between Iran and Israel continued, and an Israeli military spokesman said that Israeli combat aircraft struck military targets in western Iran.
Reuters analyst Wang Tao said that gold prices in instant transactions may test support at 3348 dollars per ounce, and landing without this level may pave the way for its decline to 3324 dollars.
For other precious minerals, silver increased in instant transactions 0.1 percent to $ 36.02 an ounce. Platinum settled at 1264.96 dollars. Palladium increased 0.6 percent to 1050.07 dollars an ounce, according to Reuters news agency.
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