Gold and Silver Prices Plummet on June 29 Amid Fed Policy Shift

Gold and silver prices declined on June 29, 2026, as Federal Reserve policy changes outweighed safe-haven demand. According to a Kitco PM Report, the precious metals sector is expected to benefit from falling oil prices.

Heraeus also reported that the gold market is shifting geographically toward Asia. China is evaluating a new import and export framework for gold that would reduce the oversight role of the People's Bank of China.

Societe Generale observed that major buyers of gold have not reduced their purchasing activity, but anticipate a more moderate pace going forward. Bart Melek of TD Securities projected that the price of gold will drop below $3,900 this year before recovering to $5,300 in 2027.