Gold settles higher, logs over 4% quarterly gain

Gold bars

Gold prices rose at Monday’s close, capping a strong second quarter despite a modest monthly decline in June.

August gold futures climbed 0.61%, or $20.1, to settle at $3,307.7 an ounce. However, the metal slipped 0.23% for the month.

For the April-to-June period, gold gained 4.17%, extending its year-to-date rally to 21.74%—driven by safe-haven demand and global market uncertainty.

Monday’s gains were supported by weakness in the US dollar. The dollar index, which measures the greenback against a basket of six major currencies, fell 0.54% to 96 as of 9:37 p.m. Mecca time.

Gold’s trajectory this year has been shaped by a range of factors, including escalating global trade tensions following Donald Trump’s return to the White House and his unpredictable, protectionist policies. Military and geopolitical unrest have further fueled demand for the safe-haven asset.

However, gold has recently come under pressure as the Federal Reserve maintains a cautious stance on interest rate cuts, the US advances trade talks with multiple countries, and the conflict between Iran and Israel has come to an end.