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[stack of shiny gold bars 3d illustration] monsitj/iStock via Getty Images Gold futures finished flat Wednesday as the Federal Reserve held interest rates steady as expected while pointing to a slower pace of cuts in the future, and chair Jerome Powell said the central bank is expecting a "meaningful amount of inflation" in coming months. While Fed policymakers still anticipate two rate cuts totaling half a percentage point this year, they slightly slowed the expected pace to a quarter percentage point cut each in 2026 and 2027. Meanwhile, markets are awaiting developments in the Middle East, where Iran's Supreme Leader Ayatollah Ali Khamenei rejected President Trump's "unconditional surrender" demand. Gold’s appeal normally is increased by geopolitical tensions, but prices have lost momentum this week after popping to nearly two-month highs on Friday, as Israel's initial wave of military strikes against Iran sparked fears of a wider Middle East conflict. Silver pulled back from more than 13-year highs reached in the previous session, with interest in other precious metals picking up as investors seek catch-up opportunities vs.
gold, but Goldman Sachs analysts said "platinum and silver's recent rallies are primarily speculative and lack fundamental support." Front-month Comex gold (XAUUSD:CUR [https://seekingalpha.com/symbol/XAUUSD:CUR]) for June delivery ended +0.1% to $3,389.80/oz, and front-month June Comex silver (XAGUSD:CUR [https://seekingalpha.com/symbol/XAGUSD:CUR]) closed -0.6% to $36.866/oz, its second-highest settlement value this year. Spot gold recently was -0.4% at $3,374.75/oz. ETFs: (NYSEARCA:GLD [https://seekingalpha.com/symbol/GLD]), (NYSEARCA:GDX [https://seekingalpha.com/symbol/GDX]), (GDXJ [https://seekingalpha.com/symbol/GDXJ]), (IAU [https://seekingalpha.com/symbol/IAU]), (NUGT [https://seekingalpha.com/symbol/NUGT]), (PHYS [https://seekingalpha.com/symbol/PHYS]), (GLDM [https://seekingalpha.com/symbol/GLDM]), (AAAU [https://seekingalpha.com/symbol/AAAU]), (SGOL [https://seekingalpha.com/symbol/SGOL]), (RING [https://seekingalpha.com/symbol/RING]), (BAR [https://seekingalpha.com/symbol/BAR]), (OUNZ [https://seekingalpha.com/symbol/OUNZ]), (NYSEARCA:SLV [https://seekingalpha.com/symbol/SLV]), (PSLV [https://seekingalpha.com/symbol/PSLV]), (SIVR [https://seekingalpha.com/symbol/SIVR]), (SIL [https://seekingalpha.com/symbol/SIL]), (SILJ [https://seekingalpha.com/symbol/SILJ]) MORE ON GOLD AND SILVER * SLV: Protect Your Downside Like I Am, With A Collar [https://seekingalpha.com/article/4794531-slv-protect-your-downside-like-i-am-with-a-collar] * GDX: Implications For Future Returns From The Upcoming Index Shift [https://seekingalpha.com/article/4793510-gdx-implications-for-future-returns-from-the-upcoming-index-shift] * Silver, Small Caps And More Surprises Light Up The Leaderboard [https://seekingalpha.com/article/4793499-silver-small-caps-and-more-surprises-light-up-leaderboard]
Gold flat as Fed leaves rates unchanged, investors wait for Middle East news
June 18, 2025 11:35 PM BST | By EODHD
