Gold and Dollar prices dropped due to Israel-Iran ceasefire; positive.

From Yahoo Finance: 2025-06-24 10:44:00

The dollar index fell by -0.41% to a 1-week low after Trump announced a cease-fire between Israel and Iran, reducing safe-haven demand. US consumer confidence index unexpectedly dropped, but Fed Chair Powell’s hawkish stance limited losses. Home price index rose +3.42% y/y, below expectations. Atlanta Fed President Bostic sees no rush to cut rates.

EUR/USD up +0.33% to a 1-1/2 week high due to dollar weakness. German IFO business climate index reached a 13-month high. ECB member Villeroy de Galhau hinted at possible rate cuts within the next six months. Swaps discounting an 8% chance of a rate cut at July 24 ECB meeting. Yen gains on falling energy costs, USD/JPY down -0.99%.

Gold and silver prices down sharply by -2.21% and -2.31% respectively due to easing geopolitical risks and hawkish Fed comments. Dollar’s slide supports precious metals. ECB member’s dovish comments suggest rate cuts. Fund buying continues to support gold prices as ETF holdings rise.



Read more at Yahoo Finance: Gold and the Dollar Tumble on Tentative Israel-Iran Ceasefire