Gold Futures Decline as Stronger Dollar Outweighs Oil Slump

Gold futures fell on June 23, 2026, as a strengthening U.S. dollar pressured prices, overshadowing a decline in crude oil. August gold contracts dropped $13.60, or 0.6%, to settle at $2,334.70 an ounce. The U.S. Dollar Index (DXY) gained 0.2% to 105.77, making dollar-denominated gold more expensive for international buyers. This occurred despite West Texas Intermediate (WTI) crude for August delivery falling 0.2% to $80.50 a barrel, and Brent crude for August delivery declining 0.1% to $84.15 a barrel. Other precious metals saw mixed movements, with July silver down 0.4% to $29.43 an ounce. In contrast, July copper gained 0.1% to $4.42 a pound, while platinum and palladium also registered slight gains.