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Gold Shines Bright: Second Consecutive Quarterly Gain Amid Dollar Weakness and Market Uncertainty

June 30, 2025

 




Gold Prices Rise Supported by Weaker Dollar Ahead of US Economic Data

Gold prices climbed on Monday, buoyed by a weaker US dollar as investors awaited key economic data later in the week for clues on Federal Reserve monetary policy direction.

  • Spot gold rose 0.6% to $3,293.55 per ounce by 2 PM ET (18:00 GMT), after hitting its lowest level since May 29 earlier in the session.

  • The precious metal secured its second consecutive quarterly gain, rising 5.5% in Q2.

  • US gold futures also rose 0.6% to close at $3,307.70 per ounce.

Dollar Weakness Keeps Gold in a Defined Trading Range

Peter Grant, VP and Chief Metals Strategist at Zaner Metals, noted:
"Dollar weakness today provides some support, but we remain within a well-defined trading range that has dominated since mid-May."

The US dollar declined against the euro and Swiss franc amid ongoing concerns about the growing US budget deficit and prospects for trade deals with key partners.

Recent trade developments include:

  • A US-China agreement on rare earth metals and magnet exports, reviving hopes for renewed talks.

  • Canada’s late Sunday repeal of a digital services tax on US tech firms, aimed at rebooting stalled trade negotiations with Washington.

Gold Thrives Amid Market Uncertainty and Expectations of Low Interest Rates

Gold remains a traditional safe haven during uncertain times and tends to perform well in low-interest-rate environments.

Investors await:

  • US private sector jobs data (ADP) on Wednesday.

  • Weekly jobless claims data on Thursday.

These reports are closely watched for signals about the Federal Reserve’s next moves.

Citi Group Forecasts Price Volatility in Q3

Citi Group’s analysis expects gold prices to fluctuate between $3,100 and $3,500 per ounce in Q3.
They suggest the late April peak near $3,500 could be the year’s high as the gold market deficit nears its peak.

Performance of Other Precious Metals

  • Silver dipped 0.1% to $35.93 per ounce.

  • Platinum declined 0.3% to $1,334.70.

  • Palladium suffered the largest daily loss, dropping 3.2% to $1,097.24.

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