Tuesday 01/July/2025 – 07:56 PM
Gold prices in the local market witnessed severe fluctuations during the month of June, and increased by 0.47%, while the ounce of the global stock exchange fell by 0.5%, according to the “i -saga” report.
The local prices increased by 20 pounds last June, as it opened a 21 -gram gram at 4600 pounds, and touched 5,000 pounds on June 15 (supported by the war of the occupied entity on Iran), then fell to 4580 pounds as the lowest level, and concluded the month at 4620 pounds.
Globally, the ounce rose $ 18 from 3290 dollars, touched 3453 dollars as the highest level in two months, and concluded at 3308 dollars.
June’s dealings were mainly affected by political events such as conflict in the Middle East and the policies of the American federal, and local markets witnessed conflict in pricing in the middle of the month.
Multiple factors pay the markets
Investors swared between the appetite of risk and the desire to hedge due to cautious fluctuation paid in geopolitical tensions and decision -making statements.
At the beginning of last June, the gold settled over $ 3380 an ounce, but the middle of the month witnessed a jump to $ 3458 an ounce after reports of Israeli military strikes against sites in Iran, before the prices decreased gradually to settle between 3310-3335 dollars, and end the month at 3274 dollars.
The American policy entered as a new compressor, as Trump has directed direct criticism of Powell, demanding reduction in interest, which raised doubts about the independence of monetary policy and pushing investors to return to gold as a safe haven, and fears of the 3.3 trillion Trump tax bill also contributed to enhancing anxiety about the federal deficit, the possibility of inflation and poor dollar, which supports gold traditionally.
On the trade level, the final deadline of partial trade agreements with Japan and the European Union approached, amid threats to impose new customs duties, which increased the need to hedge, and in Asia, support seasonal demand in India locally.
HSBC analysts indicate that gold still maintains its properties as a safe haven in times of turmoil, expecting the average price of $ 3215 an ounce this year, with a trading scope between 3100 and 3600 dollars.
Economic data and future expectations
Investors are awaiting the issuance of the American Industrial Procurement Directors Index (ISM) for June today, and any reading without expectations may enhance concerns about the slowdown in the American economy, which supports gold, while positive numbers may support the dollar and pressure gold.
The job report in the private sector is scheduled to be issued tomorrow, Wednesday, the non -agricultural job report (NFP), the weekend benefits and the purchasing managers index for the service sector next Thursday, and in this atmosphere, gold remains a safe option, with expectations of technical breakthroughs that support more rise.
