COMEX Gold Rises to $4,209.7 on June 22 Amid U.S.-Iran Talks

According to a joint statement from Qatar and Pakistan, COMEX gold closed at $4,209.7 per ounce on June 22, up 0.88%, while Shanghai gold closed at 914.88 yuan per gram, down 0.18%. The joint statement noted that the United States and Iran held high-level talks in Switzerland, with parties agreeing on a roadmap to reach a final agreement within 60 days and establishing a technical negotiation mechanism and hotline.

Gold prices remain under pressure from rising U.S. interest rate expectations, with markets pricing in a potential rate increase by September. However, current gold prices have already incorporated most hawkish expectations, with diminishing downside momentum at the margin.