Gold Futures Stalls Near Three-Month Highs Amid Profit-Taking Selling

Gold futures have stalled near three-month highs in the Japanese commodity futures market. As of 11:30 a.m. on the 25th, the June 2027 contract on the Osaka Exchange was trading at 24,426 yen per gram, up 86 yen from the previous day's settlement price.

The benchmark contract reached its highest level in approximately three months since mid-May, climbing to 24,640 yen just past 9:30 a.m. However, profit-taking selling driven by the recent short-term rally subsequently took hold, leaving prices top-heavy.

Despite the temporary setback, gold futures remain on an upward trajectory since late August. Persistent concerns over the widening U.S. fiscal deficit and unease about the credibility of the dollar as the world's reserve currency continue to drive funds into gold futures, widely regarded as a safe-haven asset.