As of Jun 29, 2026, at 1:30 AM EDT, one ounce of gold is changing hands at $4,078.31 in U.S. dollars (USD), which works out to $131.12 per gram and $131,120.71 per kilogram. Because gold trades around the clock, its spot price shifts moment-to-moment in response to investor demand, available supply, and a range of macroeconomic forces.
Gold Spot Prices
| Gold Price | Price | Change |
| Gold Price Per Ounce | $4,078.31 | -$18.24 |
| Gold Price Per Gram | $131.12 | -$0.59 |
| Gold Price Per Kilo | $131,120.71 | -$586.43 |
Live metal spot prices (24 hours). Last updated: 06/29/2026 at 12:31 AM EDT
Current Gold Price June 29, 2026: Where the Market Stands
Gold heads into the new week on a weaker footing, with spot pricing slipping to $4,078.31 per ounce — a $18.24 decline from Friday’s close. For anyone watching the per-ounce USD quote, today’s dip extends a stretch of selling that has accumulated over the last few sessions, though bullion is still trading comfortably north of the $4,000 mark that traders watch closely.
Although this year’s broader strength has dominated headlines — gold is still sharply higher over the trailing 12 months — the current retreat is a reminder of how quickly mood can turn when geopolitical and monetary forces pull in opposite directions. Prices are now stuck in a holding pattern as the market balances fresh Middle East flare-ups against a stronger greenback and growing odds of another rate hike.
Gold Price Drivers June 29, 2026
To make sense of what’s steering bullion today, it helps to separate the competing pressures at work. These are the main factors nudging the per-ounce figure in either direction:
1. Renewed US-Iran Strikes, Pressure Bullion
Bullion drifted lower in early-week dealings as worries about inflation and climbing borrowing costs resurfaced, sparked by a weekend exchange of strikes between the U.S. and Iran that put an already-shaky ceasefire under strain. The metal gave ground even after both governments reportedly agreed to pause hostilities and return to the negotiating table later in the week. Spot gold eased about 0.8% to roughly $4,055.50 an ounce during Asian hours, and futures shed close to 0.7% to land near $4,069.25.
Normally, fighting in the Middle East sends buyers rushing into gold as a refuge. On this occasion, the inflationary fallout from the renewed clashes — and the tighter-policy worries that come with it — has overshadowed that safe-haven appeal, keeping a lid on prices for the day.
2. Fed Rate-Hike Fears and a Strong Dollar
The metal continues to labor under the weight of a firm dollar and lofty Treasury yields. Traders are now assigning better-than-30% odds to a Federal Reserve rate increase before the year is out, based on CME FedWatch readings. Hot U.S. inflation data, paired with the hawkish message coming out of the Fed’s June gathering, has only deepened those jitters.
Rising rates work against gold because parking money in an asset that pays no yield becomes costlier when interest-bearing alternatives look more attractive. That pressure dragged bullion to a roughly eight-month low last week before this week’s sideways trade set in. An earlier U.S.-Iran peace outline had briefly tamped down energy-led inflation fears, sending oil back toward pre-conflict levels — but the latest strikes have stirred that uncertainty right back up.
3. Central Banks and Sovereign Funds Eye More Gold
Even with the short-term wobble, the bigger-picture setup still favors gold. A fresh Invesco poll of sovereign wealth funds and central banks — which together oversee some $29 trillion — found that one in three respondents plan to add to their gold reserves as part of a wider effort to diversify. Anxiety over the U.S. dollar was characterized as “widespread and deepening,” and 61% of central banks said elevated U.S. debt undercuts the dollar’s long-term standing as a reserve currency, a steep jump from 20% back in 2024.
This ongoing official-sector hunger for gold goes a long way toward explaining why the broader uptrend has stayed intact even as days like today bring setbacks.
Other Precious Metals Today
Gold didn’t fall by itself. Spot silver dropped about 1.3% to around $58.44 an ounce, and spot platinum eased roughly 1.1% to near $1,622.34 an ounce. That across-the-board weakness highlights how rate-hike bets and dollar strength are squeezing the whole metals group, not gold alone.
What to Watch Next
For anyone keeping tabs on where bullion goes from here, a handful of catalysts are worth following:
- Middle East developments — Whether the U.S.-Iran truce survives will influence both the inflation picture and demand for safe havens.
- Fed policy signals — Any change in rate-hike odds could move prices in a hurry.
- Dollar and Treasury yields — A softer dollar or retreating yields would hand gold room to recover.
- Central bank buying — Steady official-sector purchases could put a lasting floor beneath the market.
Gold Price FAQ
What is the current gold price on June 29, 2026?
Gold stands at $4,078.31 per ounce as of 12:31 AM EDT, off $18.24 for the session.
Why is the gold price falling today?
Today’s slide comes down to renewed US-Iran strikes that have revived inflation and rate-hike worries, a strong U.S. dollar, and high Treasury yields — a combination that has eclipsed safe-haven buying.
What is the gold spot price per ounce June 29 2026?
It’s $4,078.31, with the spot market hovering in the $4,055–$4,078 band across the early sessions.
Is gold still in a rally in 2026?
Yes. Even with today’s pullback, the uptrend remains underpinned by central-bank diversification, doubts about the dollar, and gold’s robust 12-month showing.
