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Gold steadies as US delays ME action
Business World Philippines
|June 23, 2025
GOLD PRICES were steady on Friday and poised for a weekly loss after US President Donald J. Trump delayed a decision on entering the Israel-Iran conflict in the Middle East (ME).
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Spot gold was little changed at $3,368.68 an ounce, as of 1:42 p.m. EDT (1742 GMT), its lowest since June 12, while the index was down 1.8% for the week.
US gold futures settled 0.7% lower to $3,385.70.
“Gold is holding steady as Trump backtracks on an ‘imminent’ attack on Iran. For the moment, it seems all the bad news is out,” said Tai Wong, an independent metals trader.
“A drawdown towards $3,250/oz is possible, but dips have been aggressively bought in this gold rally.”
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