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Spot Gold Falls 1.64%, Breaks Below $4,220 After Fed Chair Powell's Press Conference

2026-06-17 20:59:32

On June 17 (New York close), spot gold fell 1.64% to $4,258.59 per ounce after the Federal Reserve's rate decision and Summary of Economic Projections (SEP) announcement. Following the SEP release, prices plunged to near $4,280, then rose to breakeven after Fed Chair Powell's press conference began at 02:47 UTC before falling again. As markets assessed rate-hike prospects, gold hit a daily low of $4,219.27 at 03:38 UTC. COMEX gold futures declined 1.70% to $4,280.40 per ounce. Spot silver fell 2.97% to $67.94 per ounce, while platinum dropped 3.80% to $1,738.29 and palladium fell 2.45% to $1,322.39 per ounce.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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