Gold prices fell despite safe-haven demand

From Investing.com: 2025-06-23 06:01:00

Gold prices fell despite increased safe-haven demand due to escalating tensions in the Middle East. US airstrikes on Iran’s nuclear facilities over the weekend drove investors towards gold, which has surged by nearly 30% year-to-date. The market will closely monitor key economic events this week, including Federal Reserve officials’ speeches and key US data releases. XAU/USD fell during trading sessions, with key levels to watch at $3,340 and $3,400.

The euro declined towards 1.14600 as tensions in the Middle East heightened following US airstrikes on Iran’s nuclear facilities. Concerns over potential retaliatory actions from Tehran increased market volatility and strengthened the US dollar. EUR/USD fell during trading sessions, with key levels to watch at 1.14600 and 1.15400 based on S&P Global Market Intelligence’s PMI releases.

The Australian dollar slipped below 0.64300, hitting a four-week low as investors sought refuge in the US dollar amid rising geopolitical tensions. Despite external headwinds, the Australian economy showed resilience with private sector activity expanding for a ninth consecutive month. AUD/USD maintained its downward momentum during trading sessions, with key technical levels to watch at 0.64500 and 0.64000 based on PMI data and economic indicators.



Read more at Investing.com: Gold Retreats Despite Iran Tensions, Fed Signals and PMI Take Focus