Gold Faces Largest Quarterly Drop in 13 Years

Gold prices declined today, heading toward their biggest quarterly loss in 13 years, amid rising inflation concerns due to the Middle East conflict and ongoing prospects of a US interest rate hike. The spot price of gold experienced a modest increase of 0.48%, reaching $4,036.71 per ounce, but has fallen approximately 11.3% since the beginning of June. Current trends suggest this could be the first quarterly loss since 2024 and the largest decline since June 2013. This reflects the impact of rising interest rates on gold's appeal as a safe-haven asset.

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