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Gold Futures Fall for the Month to Limit Quarterly Gains

M. Ali 30 June, 2021 11:39 pm Commodities, Market Update

Gold prices rose on Wednesday, amid the U.S. Dollar (USD) decline across the board, but showed a varied performance on the monthly and quarterly levels.

The yellow metal’s front month contract for July delivery added $8.00, or 0.45%, to settle at $1,770.80 per ounce. This marked the biggest daily gain for gold futures since June 21.

Meanwhile, gold futures registered a 6.92% drop during June, after rising for two consecutive months, which led to a rise of $57, or 3.33%, during the second quarter of the year.

This was the best quarterly performance for gold futures since the third quarter (Q3) of 2020, amid inflation concerns and expectations for economic recovery.

As for the entire first half (H1) of 2021, gold prices decreased by $122.30, or 6.46%.

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