Gold hovers around $4,000, silver below $60

June 25, 2026 (MLN): Gold and silver prices continued to fluctuate around key levels on Thursday as concerns over inflation and a hawkish stance from central banks weighed on the precious metals market.

Currently, Spot gold fell 2.55% to $4,015.64 an ounce as of 8:12 PM PST, according to data reported by Mettis Global.
Spot silver is down 6.30% at $57.8102 an ounce as of 8:12 PM PST, according to data reported by Mettis Global.

Both precious metals delivered exceptional gains in 2025, with gold surging 66% and silver soaring 135% during the year. However, trading conditions have become increasingly volatile in 2026.

Silver futures experienced a sharp selloff at the end of January, while gold's traditional role as a safe-haven asset came under scrutiny following the outbreak of the U.S.-Iran conflict in February, according to CNBC.

Inflation trends and the policy response of major central banks, particularly the U.S. Federal Reserve, remain in focus.

The easing of geopolitical tensions in the Middle East, combined with expectations of tighter monetary policy, has reduced demand for precious metals, as investors anticipate higher interest rates and a stronger U.S. dollar.

Expectations for a Federal Reserve rate increase later this year have strengthened, while other major central banks, including those in Europe and Japan, have also tightened policy in response to inflationary pressures linked to higher energy costs.

The Federal Reserve's recent policy stance has signaled a stronger commitment to controlling inflation, a factor that could significantly influence the direction of gold prices in the coming months.

As global economic conditions stabilize and investor appetite for risk assets improves, funds may continue shifting away from precious metals and toward equities.

While periodic buying interest could support gold and silver prices, a major macroeconomic or geopolitical event may be required to trigger another sustained rally in the precious metals market.

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