Gold Closes at 4,119.55 Down 1.72 Percent on June 22

Gold closed at 4,119.55 on June 22, down 1.72 percent, after trading in a range of 4,114.83 to 4,198.61. Silver ended at 62.61, down 3.71 percent, in a session range of 62.39 to 65.19. Washington granted Iran a fresh license to sell oil, which eased supply fears and removed a geopolitical premium that had supported prices.

Firmer expectations for U.S. interest rates lifted the dollar at the same time, raising the opportunity cost of holding metals that pay no income. Gold’s daily momentum gauge stood near 35 and silver’s near 34, readings that indicate maturing selling rather than a confirmed floor.

By 00:32 UTC on June 24, gold quoted at 4,070, down 1.45 percent on the day, while silver stood at 61.18, down 1.36 percent. Brent crude traded at 76.25, down 1.08 percent, and WTI crude at 72.38, down 1.13 percent. Copper fell 0.73 percent to 6.10 and lithium dropped 5.01 percent to 78.43.

Iron ore held steady at 161.91. Agricultural commodities moved higher. Soy rose 2.17 percent to 1,141, corn gained 6.77 percent to 437.50, wheat advanced 1.45 percent to 595.25, sugar climbed 4.34 percent to 13.93, cocoa increased 3.01 percent to 4,661, and cotton rose 4.37 percent to 78.50.

Coffee fell 0.45 percent to 275.75, orange juice declined 2.30 percent to 151.05, beef dropped 3.82 percent to 246.05, and cattle eased 0.58 percent to 368.28. The USD/BRL rate reached 5.18, up 0.78 percent.