{
    "success": true,
    "data": {
        "id": 1778450,
        "msgid": "crash-gold-prices-plummet-again-heres-why-1780365646",
        "date": "2026-06-02 06:55:28",
        "title": "Crash! Gold Prices Plummet Again, Here's Why",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Finance",
        "summary": "Gold prices fell to their lowest level since 27 May 2026, dropping 1.1% to US$4,483.29 per troy ounce on Monday, driven by renewed Middle East tensions, a stronger US dollar at 99.2, and expectations that central banks will maintain tight monetary policy longer. The conflict between Iran and the United States has simultaneously raised oil prices and inflation concerns, making interest rate hikes more likely and reducing gold's appeal despite its traditional role as an inflation hedge. Analysts expect gold's downward pressure to continue unless bond yields stabilise and interest rates begin to fall, though central banks are anticipated to remain net buyers of gold in the coming year.",
        "content": "<p>Jakarta \u2014 Gold prices fell amid renewed tensions in the Middle East,\nwhich have triggered inflation concerns and reinforced expectations that\ncentral banks will maintain tight monetary policy for longer.<\/p>\n<p>According to Refinitiv data, gold prices closed at US$4,483.29 per\ntroy ounce on Monday, 1 June 2026, a sharp decline of 1.1%. This drop\nreversed gains from the previous two consecutive trading days.<\/p>\n<p>Yesterday\u2019s closing price also marked the lowest level since 27 May\n2026.<\/p>\n<p>Gold prices began to recover on Tuesday, 2 June 2026 at 06:35 WIB,\ntrading at US$4,485.09 or strengthening by 0.04%.<\/p>\n<p>The collapse in gold prices was driven partly by a rise in the dollar\nindex, which reached 99.2, jumping from the end-of-May level of 98. A\nstronger US dollar makes the metal, which is traded in that currency,\nmore expensive for holders of other currencies.<\/p>\n<p>\u201cExpectations of higher interest rates remaining in place for longer\nwill likely continue to pressure gold, unless bond yields stop rising\nand interest rates begin to stabilise or fall,\u201d said Jim Wyckoff, market\nanalyst at the American Gold Exchange, according to Refinitiv.<\/p>\n<p>Iran stated it had attacked a US military airbase following a US\nstrike on Iranian military targets over the weekend. However, US\nPresident Donald Trump indicated that talks with Iran were progressing\n\u201cvery quickly.\u201d<\/p>\n<p>Oil prices also rose, adding to inflation concerns stemming from the\nIran conflict, which could prompt central banks to raise interest rates\nto combat price pressures.<\/p>\n<p>Traders are now factoring in approximately a 54% probability that the\nUnited States will raise interest rates at least once by year-end,\naccording to the CME Group\u2019s FedWatch tool.<\/p>\n<p>Although gold is often viewed as a hedge against inflation, its\nappeal tends to diminish when interest rates are high because gold\nyields no return.<\/p>\n<p>Market participants are now awaiting a series of US employment data\nreleases this week, as well as statements from Federal Reserve\nofficials.<\/p>\n<p>\u201cOnce the geopolitical situation stabilises and energy shocks begin\nto ease, we expect investors will refocus on structural factors\nsupporting gold\u2019s bullish trend over the past few years,\u201d said Ole\nHansen, analyst at Saxo Bank.<\/p>\n<p>He added that central banks are expected to remain net buyers of gold\nover the next year.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/crash-gold-prices-plummet-again-heres-why-1780365646",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
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