Spot Gold Falls Below $4,000/oz on June 24 as Fed Rate Hike Bets Intensify

Spot gold fell below the $4,000 per ounce level for the first time since November 2025 on June 24, pressured by a stronger U.S. dollar and growing expectations that interest rates will remain elevated. According to Carsten Menke, analyst at Julius Baer, gold-backed exchange-traded funds (ETFs) could face fresh outflows if investors continue to increase bets on Federal Reserve rate hikes, potentially driving prices lower. Menke stated: "ETF capital flows are closely tied to U.S. monetary policy, directly reflected in the buying and selling behavior of physically-backed products."
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