Precious metal prices soften as other assets to the fore
July 7, 2026
The Perth Mint sold 29,730 troy ounces (oz) of gold, 293,732 oz of silver and 826 oz of platinum in minted product form during June 2026.
Gold prices continued to soften in June, falling below the USD 4,000 level for the first time since early November 2025. Over the June quarter, gold declined by more than 14%. The recent conflict in the Middle East has supported a stronger US dollar in the near term, reversing the narrative around the US dollar debasement trade. This has contributed to higher real yields and weighed on gold prices. However, this is only part of the story for FY25/26. During the first seven months of the financial year, gold rallied to numerous record highs and, by the end of January, was trading at USD 5,589. Several factors supported this impressive performance, including ongoing central bank purchases, ETF inflows, a softer US dollar, and sustained momentum-driven buying and market positioning. Despite the significant volatility experienced over the past 12 months, gold finished the year trading just above USD 4,000 as of 30 June, representing a gain of more than 22%.
From Perth Mint