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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid ongoing uncertainty in global markets, gold prices continued their downward trajectory, marking a third consecutive week of losses. According to reports, the precious metal faced renewed selling pressure that deepened its decline, with gold now recording its fourth straight monthly drop. This negative performance is driven by persistent bearish momentum that has weakened the metal's safe-haven appeal for the time being.
These pressures coincide with mixed US economic data, as the Michigan Consumer Sentiment index posted a reading of 48.9 on June 12, 2026, exceeding the forecast of 46, which may bolster dollar strength and weigh on gold. In comparison to other assets, bond yields have seen influential moves, while India's annual inflation rate stood at 3.93% per market data released on June 12, slightly below expectations.
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Sign InTraders should monitor current gold support levels given the lack of immediate bullish catalysts. Looking at the economic calendar, markets are awaiting US retail sales and building permits data on June 16, 2026, which could dictate the dollar's direction and gold's path. Additionally, speeches from central bank officials, such as Lagarde on June 15, remain key focus points for assessing global monetary policy.