Gold prices fall as tensions ease in Middle East, investors move from safe-haven assets.

From Investing.com: 2025-06-24 05:12:00

Gold prices fell towards $3,350 as tensions eased in the Middle East following a ceasefire between Israel and Iran, prompting investors to move away from safe-haven assets. XAU/USD continued to decline amid focus on upcoming Fed Chair Jerome Powell’s testimony, with key levels to watch at $3,340 and $3,400.

The euro rose against the dollar after dovish comments from Fed Governor Michelle Bowman hinted at potential interest rate cuts. Broader geopolitical relief also contributed to the euro’s strength, with expectations of a measured response from Iran. Eurozone economic data indicated a contraction in private sector activity, reinforcing expectations of a rate cut by the European Central Bank.

The British pound climbed towards 1.35200 on Monday, supported by modest expansion in U.K. business activity but pressured by dovish signals from the Bank of England. GBP/USD rose slightly in Asian and early European trading sessions, with focus on Fed Chair Jerome Powell’s upcoming testimony and increased market expectations for a July rate cut.



Read more at Investing.com: Gold Retreats as Israel-Iran Ceasefire Calms Geopolitical Fears, Eyes on Fed