Gold Prices Plummet Amid Interest Rate Hike Expectations

Gold is headed for its biggest monthly decline in 17 years. Gold is headed for its biggest monthly decline since October 2008 (gold price crash 2026). Gold has lost about 12 percent in the international market so far in June, while spot gold prices fell 0.8 percent on Tuesday to $3 per ounce. US gold futures for August delivery also slipped 1 percent to $3 per ounce. Experts believe that the biggest pressure on gold is the US Federal Reserve's expectation of raising interest rates, a strong US dollar, and persistent inflation. That's why gold is headed for a fourth straight month of declines. Gold is also set to post its first quarterly loss since 2024. It could be its biggest quarterly decline since June 2013. US market expert Edward Meir says that gold is usually the focus of heavy political pressure, but gold is usually the focus of three major geopolitical factors, such as high interest rates, and strong dollar buying during this time.