Gold Futures Fall 26% From Peak to $4,000 Amid Middle East Tensions

XAU-1.64%
According to NH Investment & Securities, international gold futures prices fell 26% from their peak to around $4,000 on July 23, driven by Middle East tensions pushing oil prices higher and stoking rate-hike concerns. The precious metal declined from an all-time high of $5,600 reached in January. Hwang Byung-jin, head of fixed income research at NH Investment & Securities, told Money Today that while gold has faced pressure from tightening expectations, the downside appears limited. He forecasts gold may find support in the $3,900-$4,000 range and could rebound toward year-end as interest rate hike expectations ease.
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