Gold Slips to Two-Week Low Amid Stronger Dollar and Rising Rate Bets

Gold prices continued their decline on June 24, with Saudi Arabia quotes falling to SAR 490.26 per gram and SAR 5,718.25 per tola as the metal slipped to a two-week low. The move follows Comex gold's settlement at $4,129.90 per ounce on June 23, down $52 or 1.24% and marking a third straight session of losses totaling $229 or 5.25%. The pullback reflects near-term macro pressures including a stronger US dollar and increased bets on Fed rate hikes, extending the largest three-day drop since June 11 and leaving prices at their weakest level since that date.