Gold is feeling the summer heat with a drop below US$4,000 per ounce on Wednesday (June 24).
The yellow metal hasn’t been below that key psychological level since November 2025, but a stronger US dollar, expectations of higher interest rates and cooling tensions in the Middle East are combining to push the price down.
Gold price chart, November 2025 to June 2026.
Chart via the Investing News Network.
The decline comes after a record-setting run that took gold to an all-time high of US$5,589.38 in January of this year. While a correction from that level was widely expected, experts are divided on what’s next.
Let’s take a look at three potential price scenarios for gold moving forward: bear, neutral and bull.
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