Gold futures rise, though they remain significantly lower on week as the precious metal consolidates.
Futures are up 0.4% at $3,301.10 a troy ounce, but sit 2.8% lower on week. Gold prices moderated in the second half of June on Middle East de-escalation and an improved global growth outlook, despite a weaker U.S. dollar and Treasury rates, Citi analysts say in a note.
The gold market deficit should peak in the third quarter of 2025 and fundamentally weaken thereafter, driven by lower investment demand, analysts write. The expected passing of President Trump’s “big, beautiful bill” and upcoming trade deals with key partners should help reduce U.S. growth concerns and weigh on gold demand, the U.S. bank says.
