Gold prices fell further on Wednesday, after the precious metal closed out its worst quarter in 13 years in the three months to the end of June.
Gold Futures started the second half of 2026 on the downside, sliding 1.24% in early trading to $3,989.00. Spot price were also lower, falling 0.82% to $3,974.51.
After hitting an all-time high of $5,586.20 on Jan. 29, bullion has since plunged as investors turn negative on the asset’s prospects with no yield in a potentially higher rate environment.
About 16% of gold was wiped out in the three months ended June 30 – its worst quarter since the second quarter of 2013. Gold is down 7.76% year to date.
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Gold futures.
Despite this decline, gold – traditionally a safe haven in times of turmoil – still has a key role to play in investors’ portfolios as traditional correlations collapse, according to Amundi Investment Institute.
In its mid-year Global Investment Outlook, Amundi said the tougher monetary policy environment – coupled with high public debt trajectories and central bank diversification away from dollar-based assets – should help support demand for gold and precious metals in the second half.
“Investors face a world in which the independence of central banks is tested, inflation is more volatile and concentration risks are increasing,” said Monica Defend, director of Amundi Investment Institute.
“The best portfolios for this new regime can withstand different scenarios: they should be diversified across currencies, invested in real assets and gold, and explore equity sectors and structural themes with discipline.”
The World Gold Council’s recent annual survey of central bank gold reserves reveals that more global central banks are willing to increase their gold reserves over the next year.
Silver was also lower on Wednesday as the selling spread to other precious metals.
Silver Futures were last seen down 3.34% at $57.49, and silver stain had lost 1.31% early Wednesday, trading at $57.80.
