Gold Market Analysis:
Gold prices rose on Monday (June 30). At the time of writing, spot gold was up 0.14% to $3,309.57, after briefly hitting a low of $3,247 — the lowest since May 29. So far this quarter, gold prices have increased by 5.4%.
The U.S. dollar index hovers near its lowest level since March 2022. A weaker dollar typically makes dollar-priced gold cheaper for holders of other currencies, thereby supporting gold prices.
Currently, the market is concerned about the U.S. trade agreement (especially with Japan) and whether President Trump’s proposed “big, beautiful” spending bill will pass before the July 4 deadline.
With the dollar near a more than three-year low, attention shifts to upcoming U.S. employment data this week.
Gold Strategy Today:
Main strategy: buy on pullbacks, sell on rebounds.
Key resistance: $3,338 | Key support: $3,301
Oil Market Analysis:
Oil prices fell during the Asian session on Monday, mainly due to easing tensions in the Middle East and expectations of increased production by OPEC, which lifted the supply outlook.
Despite last week’s sharp drop — the largest weekly decline since March 2023 — both Brent and WTI are on track for a second consecutive monthly gain in June, each rising more than 5%.
Tensions in the Middle East had previously driven prices sharply higher. After Israel launched strikes on Iranian nuclear facilities on June 13, the situation escalated rapidly, with the U.S. also launching airstrikes. This pushed Brent crude above $80 per barrel.
Now, oil prices are being shaped by both geopolitical risks and supply expectations. While tensions have temporarily eased, the region remains volatile. OPEC’s orderly output increases and the limited momentum of U.S. shale production will determine future oil price movements.
Given a moderate global economic recovery, oil may continue to trade within the $60–$70 range in the short term.
Oil Strategy Today:
Main strategy: sell on rebounds, buy on pullbacks.
Key resistance: $65.7 | Key support: $62.7
