Extending losses from yesterday, gold prices have plunged on Wednesday after a fresh skirmish broke out in the gulf between the U.S. and Iran, diminishing expectations of an early reopening of the Strait of Hormuz and a quicker end to the Middle East war.
Front Month Comex Gold for August month delivery has plunged by $148.00 (or 3.45%) to $4,138.40 per troy ounce.
Front Month Comex Silver for August month delivery has changed a little on the upside by $0.046 (or 0.07%) to $65.540 per troy ounce.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.