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According to data from Muavangbac.vn, the world’s largest gold ETF, SPDR Gold Trust, remained “idle” on June 17, holding gold at 1,012 tonnes. Over the past week, the fund recorded five sessions with no trading, indicating a cautious, wait-and-watch stance as market developments unfold.
Gold fell sharply in world markets, with prices dropping to 4,257.9 USD/oz (down about 1.7%). Prices are now attempting to recover toward around 4,310 USD/oz.
Gold prices declined on June 17 after the Federal Reserve kept rates unchanged but delivered a more hawkish signal for the policy outlook. Remarks by Mr. Warsh were cited as a key trigger, with an initial emphasis that price stability would be the central bank’s “north star.”
Specifically, the Fed maintained the target range for the federal funds rate at 3.5% to 3.75%. However, updated projections showed the 2026 median funds rate at 3.8%, higher than the 3.4% projected in March. The data suggests the Fed is not ready to ease policy and may even raise rates further if inflation remains elevated.
Gold is a non-yielding asset, so it typically faces pressure when interest rates remain high. After the Fed meeting, U.S. Treasury yields rose as investors priced in the possibility that rates will stay higher for longer. The U.S. dollar also strengthened, making gold more expensive for holders of other currencies and reducing demand for the metal.
Analysts said that as geopolitical risk eases, the market is returning attention to two key variables: the Fed’s rate path and movements in the U.S. dollar. These are viewed as the main drivers of gold’s direction in the near term.
Ready Card users outside the European Economic Area have reportedly faced an abrupt service halt after a transition involving the card issuer disrupted the USDC spending product, according to user notices shared on X.
A notice shared…
